If you earned income in the last few years but you didn’t file a tax
return because your wages were below the filing requirement, the
Internal Revenue Service may have some money for you. The IRS also has
millions of dollars in checks that are returned each year as undeliverable.
Here’s what you need to know about these two types of “missing moneyâ€
and how to claim it:
*Unclaimed Refunds*
Some people earn income and may have taxes withheld from their wages but
are not required to file a tax return because they have too little
income. In this case, you can claim a refund for the tax that was
withheld from your pay. Other workers may not have had any tax withheld
but would be eligible for the refundable Earned Income Tax Credit, but
must file a return to claim it.
*
To collect this money a return must be filed with the IRS no later
than three years from the due date of the return.
*
If no return is filed to claim the refund within three years, the
money becomes the property of the U.S. Treasury.
*
There is no penalty assessed by the IRS for filing a late return
qualifying for a refund.
*Undeliverable Refunds*
Were you expecting a refund check but didn’t get it?
*
Refund checks are mailed to your last known address. Checks are
returned to the IRS if you move without notifying the IRS or the
U.S. Postal Service.
*
You may be able to update your address with the IRS on the “Where’s
My Refund?†feature available on IRS.gov. You will be prompted to
provide an updated address if there is an undeliverable check
outstanding within the last 12 months.
*
If you do not have access to the Internet and think you may be
missing a refund, you should first check your records or contact
Premiere Business Services.
