How Tax Refunds Become Lost Funds
As an American, you are required to file your taxes every year on April 15th. In most cases, the person filing will receive a refund. This is money that was overpaid to the government throughout the year and now it’s being sent back to you. If you fail to file or you file incorrectly, you may end up losing some of your refund. When you lose a refund, that money doesn’t just go away and it’s certainly not absorbed by the IRS. Instead, all those lost tax refunds end up sitting at the bottom of some account until the rightful owners come forward. This is your chance to find your lost tax refunds and you don’t even have to contact the IRS to do it.
Lost Tax Refunds – More Common Than You Think
In some cases, people forget to file or they just lack the initiative to file. In these cases, the IRS will hold the lost tax refunds until you properly file your taxes. For instance, the IRS recently unveiled that there are over $917 million in lost refunds for the year 2009. To retrieve that money, you would have to file your 2009 tax returns by this April. Of course, you would also have to file for 2010 and 2011 if you hope to find your lost tax refunds.
This is just one example of how tax refunds get lost or end up missing. Some are merely lost in the mail, some go to the wrong recipient and sometimes the refund you get is the wrong amount. The IRS is comprised of agents that are in fact human, so they’re known to make mistakes just like everyone else. This is why it’s imperative that you check your refunds thoroughly and hire an accountant if you can so that you don’t lose any more tax refunds in the coming years.
With millions upon millions of dollars in lost tax refunds, now is the time to get your hands on what is rightfully yours. Use the Cash Unclaimed database and find your lost tax refunds with a simple search using your first and last name. If there are refunds in your name, you’ll most definitely find them.
