Is the IRS Holding Your Money?
Most of us are working on our 2011 tax return. I spent the day collecting and organizing documents and numbers for my CPA. Once again, my cat wanted to help out. “Butters” loves calculators and papers. Anything that makes noise.
I thought I was a little behind in getting my taxes out this year, but not after hearing the IRS is waiting for about a million people who still haven’t filed a federal income tax return for 2008. Those million procrastinators represent one billion dollars in unclaimed tax refunds. $1,000,000,000! The IRS estimates half of these refunds are worth more than $600.
And the window is closing to collect. To get a refund for tax year 2008, the deadline is April 17. The date is two days later this year because April 15 is a Sunday and April 16 is a District of Columbia holiday. After April 17, any unclaimed refunds from 2008 becomes the property of the U.S. Treasury.
Even “Butters” would scratch and claw to keep that from happening.