$2.2 Billion in Unclaimed 2003 Tax Refunds

Article Placeholder Image
By Admin on March 06, 2007 12:37 PM

The Internal Revenue Service (IRS) announced today that more than $2.2 billion in unclaimed tax refunds are awaiting about 1.8 million Americans who did not file a federal income tax return for 2003. According to the IRS, in order to collect the money, a 2003 tax return must be filed with an IRS office no later than Tuesday, April 17, 2007 (the deadline for filing tax returns for tax year 2006). The IRS estimates that half of those who could claim refunds would receive more than $611. In some cases, individuals had taxes withheld from their wages, or made payments against their taxes out of self-employed earnings, but had too little income to require filing a tax return. Read the IRS Press Release.