IRS Has $1 Bln. In Unclaimed Tax Refunds From 2013

The IRS is in a three-year stretch 2016-2018 when April 15 won’t be the designated Tax Day
The IRS is in a three-year stretch 2016-2018 when April 15 won’t be the designated Tax Day. Illustration Daniel Downey for The Wall Street Journal
Author

06 March, 2017

It's hard to believe but the Internal Revenue Service or IRS says more than 1-billion dollars is sitting and waiting to be claimed by one-million American taxpayers.

"We're trying to connect a million people with their share of $1 billion in unclaimed refunds for the 2013 tax year", IRS Commissioner John Koskinen said in a news release.

The significant slowdown earlier in the month was said to be due to the IRS's delay until February 15 in processing returns claiming the earned income tax credit and the additional child tax credit.

IRS pointed out that by failing to file a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2013.

For those interested in getting the money back, you have until April 18 to file your taxes.

Eurozone inflation above target for first time in 4 years
The core inflation rate, excluding food, energy and tobacco, held at 0.9% for the month which was also in line with expectations. Jennifer McKeown at Capital Economics said she expected the increase to 2.0 percent to "prove temporary".

Betsy DeVos releases statement on HBCUs, Twitter points out she's clueless
During my 12 years as a teacher, I have experienced firsthand the failed initiatives that have attempted to "reform" education. Education Secretary Betsy DeVos heralded Trump's commitment in an interview with The Post .

Marie Collins: Survivors' voices must continue to be heard
She said the commission had suffered constant setbacks, "despite the Holy Father approving all its recommendations". Collins had been a member of the panel since 2014.

You can find prior tax forms and instructions on filing at IRS.gov. If you don't, that cash becomes the property of the U.S. Treasury.

Ed Villanueva is a local tax agent who said he gets many clients asking about refunds from previous years. In general, the IRS estimates the midpoint for potential refunds for 2013 to be $763; half of the refunds are more than $763 and half are less.

Taxpayers seeking a 2013 refund may see their checks withheld if they haven't filed returns in 2014 and 2015.

"There's a lot of things [.] credits, especially credits and deductions that you have to put on your tax return that could mean an even bigger refund", Sanford said. You can find that publication here.


More news


  • Theresa May to warn SNP to stop playing politics over Brexit

    Theresa May to warn SNP to stop playing politics over Brexit

    In last June's Brexit referendum, the people of Scotland voted by 62 percent to 38 percent in favor of remaining in the EU. May does not say she would veto a second Scottish independence referendum .

    European Union threatens to introduce visas for U.S. travellers

    The European Parliament will vote on legislative resolution on the abolition of visa requirements for Ukrainian citizens on April 5.
    India's annual economic growth slows to 7 percent in December quarter

    India's annual economic growth slows to 7 percent in December quarter

    The RBI and other agencies had lowered GDP projections arguing that the note ban would have short-term impact on the Indian economy.
  • New DNC chair Perez will attend Trump's speech as former rival's guest

    New DNC chair Perez will attend Trump's speech as former rival's guest

    But newly-elected Democratic National Committee Chairman Tom Perez , a former labor secretary, and Minnesota Rep. We need an inspiring vision of equality that resonates in the hearts, minds, and souls of all Americans.

    Lightning trade Filppula, picks to Flyers for Streit

    Philadelphia also picked up a pair of draft picks in the deal - a fourth-round selection and a conditional seven-rounder in 2017. TSN Hockey Insider Pierre LeBrun noted the Flyers retained 4.7 per cent of Streit's salary ($5.25 million cap hit) in that trade.
    Moyes urges Black Cats to silence Lukaku

    Moyes urges Black Cats to silence Lukaku

    Everton manager Ronald Koeman said now is not the time to discuss a new contract amid speculation linking him with Barcelona. We know the team behind us is West Brom, who we play at home in two weeks, and above there is still a gap.
  • Some Nintendo Switch Games Don't Support TV Mode

    Some Nintendo Switch Games Don't Support TV Mode

    The Switch is also region-free, so if your Nintendo Account originates in Japan, you'll have access to games like VOEZ . Surrounded by excited fans and curious onlookers, the event will kick off a new era in Nintendo gaming.
    Congress returns, with health care, Supreme Court on agenda

    Congress returns, with health care, Supreme Court on agenda

    Florida refused to expand Medicaid under the ACA, even though the federal government would have paid for the expansion. But, he assured them that a "fantastic" replacement plan is on the way that will lower costs and improve healthcare.
    Jim Herman fires first-round 67 at Honda Classic

    Jim Herman fires first-round 67 at Honda Classic

    He chipped 15 feet by the pin and made bogey, then left a wedge short of the 18th green and had to scramble for a par and a 66. Jordan Spieth was six shots clear at Pebble Beach, while Dustin Johnson was up by five shots at Riviera, both going on to win.
  • LG G6 Release Date and Price Details Confirm $800 Price Tag

    LG G6 Release Date and Price Details Confirm $800 Price Tag

    It is 17 years after the original but it has very few changes to that Nokia best-seller - including the classic game Snake . He is able to analyse the emotional state of who is talking to him and even advise you on what books to read.
    Snap Inc to raise $3.4b ahead of NYSE debut

    Snap Inc to raise $3.4b ahead of NYSE debut

    Snapchat's growth, however, is being driven more and more by older users, according to the research firm eMarketer . The shares opened trading today at around $23.50 to $24.50, giving the company an overall valuation of $24 billion.

    Status for Opening Day in jeopardy

    Wright's injury will hamper the club's depth to begin the season, and could present a recurring problem once again for the Mets. Unable to throw until late March, Wright will likely be limited to DH in Grapefruit League games as he rests his shoulder.