Phoenix Tax Law Blog

IRS Yet to Issue $917 Million in Tax Returns for 2009

The IRS has recently stated they are holding nearly $917 million in potential tax returns for those that never filed an income tax return during 2009, a figure that encompasses an estimated 984,400 US residents. Many of those included in this figure are potentially residents of Arizona.

The IRS additionally estimates that nearly half of the potential refunds amount to or exceed $500, a handsome chunk of change many American families could undoubtedly use. The deadline for these late filers to collect their refund is however steadily approaching.

In order to receive a refund for the 2009 season, those eligible will be asked to file no later than the current approaching April deadline this year. Any money that is not redeemed this year for the 2009 season will transfer over to US Treasury property.

The US government generally provides tax filers with a three year window to complete these filings. Unfortunately, many of these people likely assume they were not eligible for a tax refund and are essentially forfeiting their refund checks as a result.

Did you ever file for a tax return for the 2009 season? Act now or forever hold your peace!

Posted in Taxes |