Wednesday, March 11, 2015

IRS Has Refunds Totaling $1 Billion for People Who Have Not Filed a 2011 Federal Income Tax Return



WASHINGTON — Federal income tax refunds totaling $1 billion may be waiting for an estimated one million taxpayers who did not file a federal income tax return for 2011, the Internal Revenue Service announced today. To collect the money, these taxpayers must file a 2011 tax return with the IRS no later than Wednesday, April 15, 2015.

"Time is running out for people who didn’t file a 2011 federal income tax return to claim their refund," said IRS Commissioner John Koskinen. "People could be missing out on a substantial refund, especially students or part-time workers. Some people may not have filed because they didn’t make much money, but they may still be entitled to a refund.”

The IRS estimates half of the potential refunds for 2011 are more than $698.

In cases where a tax return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. For 2011 tax returns, the window closes on April 15, 2015. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.
The law requires the tax return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return that qualifies for a refund.

The IRS reminds taxpayers seeking a 2011 refund that their checks may be held if they have not filed tax returns for 2012 and 2013. In addition, the refund will be applied to any amounts still owed to the IRS, or their state tax agency, and may be used to offset unpaid child support or past due federal debts, such as student loans.

By failing to file a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2011. Many low-and-moderate income workers may not have claimed the Earned Income Tax Credit (EITC). For 2011, the credit is worth as much as $5,751. The EITC helps individuals and families whose incomes are below certain thresholds. The thresholds for 2011 were:
  • $43,998 ($49,078 if married filing jointly) for those with three or more qualifying children,
  • $40,964 ($46,044 if married filing jointly) for people with two qualifying children,
  • $36,052 ($41,132 if married filing jointly) for those with one qualifying child, and
  • $13,660 ($18,740 if married filing jointly) for people without qualifying children.
Current and prior year tax forms and instructions are available on the IRS.gov Forms and Publications page, or by calling toll-free: 800-TAX-FORM (800-829-3676). Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for the years: 2011, 2012 or 2013 should request copies from their employer, bank or other payer.

If these efforts are unsuccessful, taxpayers can get a free transcript showing information from these year-end documents by going to IRS.gov. Taxpayers can also file Form 4506-T to request a transcript of their tax return.

Individuals who did not file a 2011 return with a potential refund:

State or District
Estimated
Number of
Individuals
Median
Potential
Refund
Total
Potential
Refunds*
Alabama
19,900
$693
$17,794,000
Alaska
5,300
$795
$5,703,000
Arizona
27,700
$618
$23,649,000
Arkansas
10,600
$678
$9,371,000
California
103,700
$627
$92,209,000
Colorado
21,100
$668
$19,258,000
Connecticut
13,400
$777
$13,415,000
Delaware
4,800
$726
$4,579,000
District of Columbia
3,900
$736
$3,812,000
Florida
67,500
$720
$64,106,000
Georgia
36,200
$628
$31,250,000
Hawaii
7,100
$742
$6,842,000
Idaho
4,700
$595
$3,838,000
Illinois
44,000
$763
$43,177,000
Indiana
23,900
$732
$22,135,000
Iowa
11,100
$719
$10,128,000
Kansas
11,600
$667
$10,421,000
Kentucky
14,300
$736
$12,935,000
Louisiana
22,000
$693
$21,432,000
Maine
4,500
$645
$3,748,000
Maryland
25,000
$694
$23,628,000
Massachusetts
25,800
$736
$25,005,000
Michigan
36,200
$721
$34,254,000
Minnesota
16,500
$632
$14,148,000
Mississippi
11,100
$629
$9,625,000
Missouri
23,600
$655
$20,378,000
Montana
3,700
$676
$3,381,000
Nebraska
5,700
$683
$5,108,000
Nevada
13,300
$702
$12,185,000
New Hampshire
4,600
$775
$4,518,000
New Jersey
34,200
$780
$34,520,000
New Mexico
8,500
$688
$7,799,000
New York
63,400
$765
$62,809,000
North Carolina
31,700
$595
$26,248,000
North Dakota
2,600
$761
$2,591,000
Ohio
39,600
$699
$35,218,000
Oklahoma
19,300
$707
$17,988,000
Oregon
17,500
$598
$14,262,000
Pennsylvania
44,000
$770
$42,228,000
Rhode Island
3,400
$748
$3,270,000
South Carolina
13,200
$609
$11,160,000
South Dakota
2,600
$732
$2,480,000
Tennessee
20,700
$690
$18,630,000
Texas
101,800
$743
$103,164,000
Utah
8,000
$610
$6,944,000
Vermont
2,100
$707
$1,921,000
Virginia
32,100
$685
$29,647,000
Washington
28,400
$750
$28,705,000
West Virginia
5,100
$784
$5,023,000
Wisconsin
14,100
$621
$11,953,000
Wyoming
2,800
$835
$2,984,000
Totals
1,117,900
$698
$1,041,576,000



* Excluding the Earned Income Tax Credit and other credits.

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