IRS owes $1B in unclaimed refunds; get your money!

The Internal Revenue Service or IRS Wednesday said that it now holds more than $1 billion in unclaimed federal income tax refunds for an estimated 1 million taxpayers who did not file a 2013 federal income tax return.

"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.

(Yes, you get a few extra days this year.) That said, you technically have a three-year window to claim a refund, which means that if you've yet to file your 2013 return, you still have over a month to do so.

Bottom line, if you haven't filed the 2013 federal tax return, do it now and get the money you're due from the government.

To collect their refunds, they must file their 2013 return by Tuesday, April 18th.

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You can find prior tax forms and instructions on filing at IRS.gov. It varies by state, with estimates ranging from $619 in Idaho to $917 in Alaska.

The IRS estimates almost 30,000 people in North Carolina could be eligible for refunds. That delay was stipulated by the Protecting Americans from Tax Hikes Act of 2015, in order to allow the IRS more time to weed out fraudulent credit and refund claims.

The only way you'll find out is by filing. They may also be used to offset unpaid child support or past due federal debts such as student loans.

And, I'm told some of those folks also could lose their earned income tax credit. They say this is especially important if you are claiming an EITC, or Earned Income Tax Credit.

  • Rita Burton