New York – Senator Charles E. Schumer announced today that the IRS has $1.3 billion worth of unclaimed 2005 tax refunds.
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More than 76,000 New Yorkers are eligible for the refund, part of an estimated 1 million people nationwide.
To claim the money, New Yorkers must file a 2005 tax return by April 15, 2009.
“New Yorkers should contact the IRS immediately,” Schumer said, “to ensure they don’t lose out on hundreds or even thousands of dollars.”
It is believed that some taxpayers may not have filed tax returns for 2005 because they didn’t make enough money – even though their wages were taxed. The law states they have three years to claim the refund or the United States Treasury gets the cash. For 2005 returns, the deadline is April 15 of this year.
Do I hear silence? So the goverment gets to keep money just because you forgot to file taxes, does it work the other way around also. Do you get to keep your owed taxes if the goverment didn’t pick up on it for three years? For heaven sake, who’s money is this really? And you say Spinka and Rubashkin is corrupt?
Yes it does work the other way around too. If you file a tax return the statute of limitations is three years for the IRS to audit and impose additional taxes.
There exceptions for excessive under-reporting and fraud etc. of course
If you fail to pay taxes, you pay penalties and interest.
Another $1.3 billion a year for the feds… and this is taxpayers money!! money that belongs rightfully for us!
Why is everyone crying about taxes its our patriotic duty to pay taxes ask your VP I can’t wait for Apr. 15 to send in a check