Over Two Billion In Tax Refunds Unclaimed for 2003 |
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| By: Richard Chappoe | ||||
Feel like taxes are too high? Of course you do. It is a god given write of Americans to complain about taxes. That being said, you lose the right to complain if you don’t follow up on money the IRS owes you. For the 2003 tax year, 1.8 million Americans have failed to do so to the tune of a whopping 2.2 billion dollars. Imagine balancing your bank account and finding you had TWO BILLION dollars more than you should. Well, this is what the IRS found for the 2003 tax year. Yes, taxpayers have left a couple billion dollars on the table. This averages out to more than a grand per person that failed to claim the refunds. There are roughly 1.8 million of you. Two billion dollars is undisputedly a lot of mulla. So, just how did the IRS manage to get so much money that should really be in the hands of taxpayers? Glad you asked. 1. You just didn’t file a tax return because of family or personal matters. 2. If you left a salaried job and opened your own business, you can easily overpay. 3. Tax refunds are not forwarded by the postal office if you moved. 4. Lower income individuals failing to claim the EITC. 5. You accidentally made to quarterly payments instead of one. Can you imagine just throwing 1,000 out the window of your car? If you haven’t claimed your 2003 refund, you are about to do just that. After April 17th of 2007, it expires. That’s right, you lose it and the IRS gets to spend it as it wishes! 2003 may seem like a long time ago, but a trip to the past can be profitable. If you could use an extra grand, and who can’t, you may be able to get it by checking your records for the year. Don’t assume you received a refund. Make sure. You might just be surprised. |
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| Article Source: http://yourfinance.co.za | ||||
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