Tags: unclaimed | tax | refunds | IRS

IRS Has $900 Million in Unclaimed Refunds Set to Expire

If you didn't bother filing a federal tax return for 2009, it might be a good time to rethink your tax strategy.

The Internal Revenue Service says it has $917 million in unclaimed tax refunds from 2009, and time is running out to claim them.

Editor's Note: Make 2013 the Year You Pay Zero Taxes

The refunds are owed to nearly 1 million people who failed to file returns for 2009. Taxpayers must file their 2009 returns by April 15 to claim their refunds. After that, the money becomes property of the U.S. Treasury.

The IRS says there is no penalty for filing a late return that qualifies for a refund. But the agency says refunds may be delayed if taxpayers also failed to file returns for 2010 and 2011.

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If you didn't bother filing a federal tax return for 2009, it might be a good time to rethink your tax strategy.
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