Unclaimed Property Blog

Utah is not out of the loop when it comes to states holding onto massive amounts of unclaimed property and lost cash. The state’s Treasurer recently uncovered a massive amount of checks that belong to the hardworking former and current residents of this great state. In addition to lost cash, the treasury also discovered unclaimed property valued into the millions of dollars. The treasury simply can’t manage all of those assets on its own. The announcement was designed to get the residents to take action to find unclaimed property and lost cash in Utah. Whether or not the problem will work remains to be seen.

If someone walked up to you on the street and offered you cash, you’d probably be wary, and you’d have every right to be. Free cash is tempting, but there’s always that old saying. “If it seems too good to be true, it probably is.” Yet there is a way to search for cash that is free and it doesn’t involve any work on your part. There is no catch and searching for cash doesn’t even involve you getting up from your chair. This lost cash search is ongoing in all fifty states and it just got easier to participate.

The state of Illinois is bursting at the seams with lost cash and the state’s treasurers are hoping that someone will finally do something about it. No, the state treasurers aren’t hoping for a super hero to save them from their current Illinois lost cash predicament. Instead, they’re waiting on the hard working men and women of the great state of Illinois to step forward and claim what’s rightfully theirs. Illinois lost cash exists in the millions and all of that money is going nowhere fast. Only by stepping forward and attempting to claim lost cash in Illinois can you hope to give the treasurer a hand with this problem.

You know the gift cards that are usually given out as presents or rewards instead of actual gifts? Well these to are starting to pile up. Well not each of the actual physical gift cards but the actual cash value of all of these cards is finally adding up. The total estimated figure of this staggering amount is somewhere to the tune of $6.8 billion by the last and most recently updated count. With all that money to contend with, state treasurers are at a loss as to what they should do about this specific problem. They already have enough on their plates and with these types of gifted funds starting to really add up they are frustrated and actually stumped as to how to properly and effectively handle this growing situation.

Several states are joining in on an initiative to discover lost funds and it’s about time. If all fifty states put their combined unclaimed funds into a pot, along with the fed and their income tax unclaimed funds initiatives, the amount would easily amount to the billions of dollars – maybe even trillions. With so much money flowing in constantly, it’s a little hard to tell. Now the states are finally doing something about it by starting unclaimed funds initiatives across the country where anyone with an Internet connection can discover lost funds.

Unclaimed Funds Initiatives – It’s About Time

There is still missing money in Georgia and the state’s Treasurers are not happy about it. Just when the team that works in the Treasury office thinks that they might have a handle on the situation, even more Georgia missing money comes flowing in. Think of a fire hose, but instead of water there are checks upon checks flowing out of the business end. You could find missing money in Georgia, but first we have to find out where all those checks come from and who is owed all of that money. That’s the answer the state Treasury wants to find out. If you want to locate missing money in Georgia, listen up. The solution is easier than you might think.

As an American, you are required to file your taxes every year on April 15^th. 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.

The IRS is urging anyone who didn’t file a tax return in 2009 to file this year, as the federal government is holding onto 917 million expiring tax refunds. $917 million is a lot of money and all of that money could go to the rightful owners, but only if those individuals file by April 15^th of this year.

While most people won’t be holding out hope that they have 917 million in expiring tax refunds, many could be surprised at just how substantial the refunds average out to be. The IRS states that half of those 2009 refunds amount to more than $500. That means that you could have $500 or more coming to you this year, but only if you claim your expiring tax refunds.

Out of all the sources for unclaimed money, abandoned bank accounts have to be the most boggling. How can anyone abandon a bank account? That’s the question most people want the answer to the moment they hear that there are millions if not billions of dollars in unclaimed money from that very source. Regardless of how or why it happens, it certainly does happen and it’s a frequent enough occurrence that most state Treasurers want to put a stop to it. If you suspect that you may have abandoned a bank account somewhere down the line, it’s time for you to finally find out.

Kentucky is sending out an SOS to all current and former residents who may have money in the state’s unclaimed money account. The state’s Treasury and Department of Revenue are having a heck of time managing the state’s missing cash. This Kentucky missing cash is growing to the tune of millions of dollars per year and until something major happens the problem will keep piling up. What’s this major event that Treasurers are waiting for? They’re mostly waiting for the rightful owners of this Kentucky missing cash to step forward to claim the money as their own. Considering that most people have no idea they have missing cash in Kentucky, you can imagine that this problem is much larger than anyone anticipated.