ATLANTA — Refunds totaling $1 billion may be waiting for an estimated one million taxpayers who did not file a federal income tax return for 2011, In Tennessee, over $18 million in unclaimed refunds awaits 20,700 individuals. However, to collect the money, a return for 2011 must be filed with the IRS no later than Wednesday, April 15, 2015.
The IRS estimates that the median unclaimed refund for tax-year 2011 in Tennessee is $690.
“Time is running out if you want to get your refund,” said IRS Spokesman Mark Green. “Taxpayers should review their 2011 statements for refundable credits and withholdings. We want all taxpayers to get the refund they’re due.”
“In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund,” said Green. “If no return is filed to claim the refund within three years, the money becomes property of the U.S. Treasury.”
Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.
Forms and instructions are available on the IRS.gov or by calling toll-free: 800-TAX-FORM (800-829-3676).