Thousands Missing Out On IRS Refunds From 2007

March 3, 2011

There could be as many as 74,500 in Florida and 17,600 in Alabama that could be about to miss out on tax refunds from 2007. The refunds are part of $1.1 billion owed to people who did not file a federal income tax return for 2007, according to the IRS.

To collect the money, a return for 2007 must be filed with the IRS no later than Monday, April 18, 2011.

The average refund due in Florida is $665; it’s $634 in Alabama.

Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments, the IRS said. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.

For 2007 returns, the window closes on April 18, 2011. The law requires that the return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return qualifying for a refund. But if the taxpayer did not file a return for 2008 or 2009, the refund will be held until those forms are filed.

For more information and tax forms, visit irs.gov.

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Written by William Reynolds · Filed Under News