$917 in Unclaimed Tax Refunds

Taxpayers who are owed refunds but have not yet filed 2009 returns have until April 15, 2013, to do so. If they don’t file by this date, they lose the refund forever. The IRS estimates that nearly 984,400 taxpayers could be eligible for a refund by filing and that the median unclaimed refund for 2009 is more than $500.

Some taxpayers have not filed their 2009 returns because they did not have enough gross income to require them to file. Even though not required to file, they should if they:

• Had any income taxes withheld from wages, so the taxes can be refunded to them.
• Are eligible for the earned income credit.

There is no tax penalty for late filing of returns on which refunds will be issued.

Caution: Even if 2009 returns are filed, refund checks for 2009 will not be sent if taxpayers have not filed their 2010 or 2011 returns.

Source: IR-2013-29