Show me the money!

The IRS may have money waiting for you.  If you earned income in the last few years but didn't file a tax return because your wages were below the filing requirement, the IRS may have some money for you.

The IRS also has millions of checks that are returned each year as undeliverable.

There are two types of "missing money" and you might be able to claim your share.

The first type of missing money is unclaimed refunds.  Some people earn income and have taxes withheld from their wages but are not required to file a return because they have too little income.

In this example, you are able to file for a refund for the amount of tax that was withheld from your paycheck.  You need to file your return within three years from the due date of the return.

The second type of potential money for you is the undeliverable refunds.  Amazingly enough, people actually take the time to file a return and then forget about the check that is supposed to come their way.

The IRS refund checks are mailed to your last known address, but if you move without notifying the IRS or the US Postal Service then the check is returned.

If you think you may have a refund waiting for you, check out the "Where's My Refund" section of the IRS website.

Liberty Tax is here to help you maximize your refund, please give us a call to schedule a time to prepare your tax strategy.

Posted To: Tax Ranger's Blog By: Tax Ranger On: Friday, August 05, 2011
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