Guess what? You might be one of the 1 million or so taxpayers that are due $917 million from the IRS. Sad thing is, it's your money that they are trying to get back to you.
This pool comes from tax refunds owed to taxpayers from back in 2009. Problem is, if you don't file a return, you can't claim your refund. About 1 million taxpayers didn't file a return, so the money has been sitting there.
You must act now. There is a 3 year statute of limitations on filing back income tax returns. This is a true case of you snooze, you lose. If you don't file a return by April 15, 2013,all that money goes to the US government.
Why didn't people file returns to get these refunds already? Most likely because they were under the threshold for needing to file, and stopped the inquiry at that point, not going to the next step to see if there was any benefit to filing even though no taxes were due.
There is no penalty for filing a late income tax return if you didn't owe any money. And likely the money due back to you is yours - from withholding in your paycheck.
Yahoo news reports: "People in every state and the District of Columbia are owed refunds, including 100,700 people in California and 86,000 people in Texas, the IRS said. Most of the refunds exceed $500."
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