Tags: IRS | 1 billion | unclaimed | tax refunds | irs | 2013

IRS: More Than $1 Billion in Outstanding Tax Refunds From 2013 Remain Unclaimed

IRS: More Than $1 Billion in Outstanding Tax Refunds From 2013 Remain Unclaimed
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By    |   Saturday, 04 March 2017 06:48 PM

The Internal Revenue Service has more than $1 billion in outstanding tax refunds from 2013 that remain unclaimed, Forbes reports.

"We’re trying to connect a million people with their share of 1 billion dollars in unclaimed refunds for the 2013 tax year," IRS Commissioner John Koskinen told Forbes. "People across the nation haven’t filed tax returns to claim these refunds, and their window of opportunity is closing soon. Students and many others may not realize they’re due a tax refund. Remember, there’s no penalty for filing a late return if you’re due a refund."

To claim a refund for the 2013 tax year, returns must be postmarked by April 18, 2017. Money that doesn’t get claimed becomes the property of the U.S. Treasury.

Taxpayers in Alaska and Wyoming, according to Forbes, are owed the most money, on average. The median refund is $917 in Alaska and $911 in Wyoming. In general, the IRS estimates the midpoint for potential refunds for 2013 to be $763; half of the refunds are more than $763 and half are less.

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The Internal Revenue Service has more than $1 billion in outstanding tax refunds from 2013 that remain unclaimed, Forbes reports.
1 billion, unclaimed, tax refunds, irs, 2013
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2017-48-04
Saturday, 04 March 2017 06:48 PM
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