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IRS Has $55 Million in Leftover Refunds Available
The IRS is trying to give away $55 million.

That's the amount the government is sitting on from 51,400 Illinois taxpayers from tax year 2006, but those taxpayers didn’t file a return to claim it. The median amount is $650.

IRS spokeswoman Sue Hales says the taxpayers in question typically had income tax withheld from their paychecks but for whatever reason didn’t file a return.

If you're one of these people, you better act fast. By law, tax refunds must be claimed within three years. The original tax filing date for 2006 taxes was April 15, 2007, so the three-year deadline is coming up on April 15 of this year.

The IRS does not penalize taxpayers for failure to file if they don’t owe tax, but the opportunity to claim those 2007 refunds will go away.

Also, the 2006 tax forms were the only opportunity for taxpayers to claim the telephone excise tax refund, typically $30 to $60.

(Illinois Radio Network)
03 06 10 by Newsroom
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