Does the IRS owe me money?

Is it possible that the IRS owes me money?  They could if you forgot to file a 2008 tax return and you were to be paid a refund. 

Refunds totaling more than $1 billion may be waiting for one million people who did not file a federal income tax return for 2008, the Internal Revenue Service announced this week. However, to collect the money, a return for 2008 must be filed withCould this be your money? the IRS no later than Tuesday, April 17, 2012.  Liberty Tax can help you do that! 

The IRS estimates that half of these potential 2008 refunds are $637 or more. What could you do with $637? You could start an emergency fund, pay off some debt, or help plan the family vacation this year!  Go talk to my friends at Health and Wealth Makeover and they will set you on the right path! 

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. 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.  

So, what does this mean? You have to move and I mean pronto!  We only have until April 17th and chances are you might not have all of your W2s from 2008 so we might need to make some phone calls.  So, let’s go! 

Please note that if you didn’t file in 2009 and 2010 your refund from 2008 could be held, but that doesn’t mean we shouldn’t file.  It is the right thing to do and you have money waiting! 

Liberty Tax wants to help you plan for now and the future and in some cases like this we can help clean up your past.  However, this isn’t something that you should put off.  Make sure you get into Liberty Tax this week and we will be able to help you. 

Posted To: Tax Rants by David Rocci By: David Rocci On: Tuesday, February 28, 2012
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