$110 Million in Tax Refunds and Rebates Go Unclaimed
Unclaimed tax refunds are at an all time high. The IRS released the figures for unclaimed tax refunds and tax rebates of $110 MILLION.
The $110 Million in unclaimed money is owed to 115,478 Americans, with the average unclaimed tax refund check totaling $953.
So, why are these returns unclaimed?
Bad Address on File with the IRS
These $110 Million in unclaimed tax refund or rebate checks could not be delivered at the address on file with the IRS and are classified as undeliverable.
It is important to update your address with the IRS when you move. This can be done easily by downloading IRS form 8822, the change of address form for the IRS by clicking here.
You can check to see if you are owed unclaimed tax refund money or other unclaimed money by clicking here.
You Might Be Owed Other Unclaimed Money
If you are owed an unclaimed tax refund you may be owed other unclaimed funds. There are millions of Americans who have lost money they may be completely unaware exists. The total of unclaimed money in the United States is now estimated at over $50 Billion!
This unclaimed money is considered unclaimed property and includes the following:
· Savings and checking accounts and safe deposit box contents
?· Inheritance?
· Stocks, mutual funds, bonds, and dividends?
· Uncashed cashier’s checks or money orders
· IRS refunds?· Wages, child support payments?
· Matured or terminated insurance policies?
· Estates
?· Mineral interests and royalty payments, trust funds, and escrow accounts
?· The list goes on and on…
This money will sit in the government’s hands until claimed by the rightful owner. Each person should check the unclaimed money database at www.cashunclaimed.com at least twice a year to see if they or their family members have money owed to them.
This money will not sit around forever either. The state and federal governments are creating limitations on the numbers of years they will hold some unclaimed funds.
If you do find money owed to you, there will be forms and instructions on claiming the funds. Oprah Winfrey stated it is estimated 8 out of 9 families in the US are owed unclaimed money! Make sure to check www.cashunclaimed.com to see how much unclaimed money is waiting for you.
Nicole Ackermann offers more information about unclaimed money at www.cashunclaimed.com. Cash Unclaimed is the largest unclaimed property database, including all state and federal databases and was founded to assist owners in easily locating and claiming their lost funds. The site offers more information on unclaimed money and a free search for unclaimed money.
