$1 Billion in Tax Refunds Remain Unclaimed

According to the IRS, they are on the hunt for taxpayers who are entitled to their share of unclaimed tax refund dollars.  $1 billion is reportedly sitting in wait for those who have not filed an income tax return for 2013.  Those who have not filed for 2013 can be found across the country, but the IRS estimates that as many as 36,000 people in Ohio have unclaimed dollars waiting for them. Just how much money has gone unclaimed by Ohioans? The IRS shares this total amount: $34,547,000.

Taxpayers have three years to claim refunds for returns they have failed to file. If you still have not filed for 2013 and believe you are entitled to a refund, you must file a return for that year by this year’s deadline, April 18, 2017. Should you not have your 2013 return postmarked by that date, those unclaimed funds become property of the U.S. Treasury Department. Something else to keep in mind- your 2013 unclaimed tax funds could still be held up if you have not filed returns for 2014 & 2015. The IRS warns that your refund dollars could be used to pay off funds owed to them or a state tax authority. Unpaid child support and federal debts could also change the amount you receive.

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