IRS Has $1 Billion in Unclaimed Refunds, Could Some Belong to You?
Are you the type that files your taxes as soon as you get all those W-2 forms from your employer, wait (like me) until the very last minute to toss the paperwork in the mail, OR maybe there was a time when you totally forgot to file your taxes at all! Well the latter was the case for about $1 million people back in 2014, and if you're among those, you could be missing out on your piece of a $1 billion pie!
According to KTVB, that's about how much money that has been 'collecting dust' at the U.S. Treasury. There's a three-year grace period for which you can file your taxes or lose out on your refund, and that deadline is quickly approaching, April 17 to be exact. You might be thinking, "eh, it can't be that much money." Well, you're wrong. According to KTVB, the average refund is worth $847.
Maybe you're hesitant to file because you've heard about penalties when filing late. Well, that's true unless you're expecting money back. Acting IRS Commissioner David Kautter said "There is no tax penalty for filing late when you are due a refund". So there you go, go and get yourself a piece of that pie!
Read the full story HERE.