IRS: Almost $1 Billion in Tax Refunds Unclaimed from 2012 - NBC4 Washington

Susan Hogan and the Consumer Watch team covering your consumer concerns

IRS: Almost $1 Billion in Tax Refunds Unclaimed from 2012

Deadline to file for unclaimed refunds is looming

    processing...

    NEWSLETTERS

    IRS: Almost $1 Billion in Tax Refunds Unclaimed from 2012
    NBC6.com

    If you can believe this -- the IRS says that taxpayers are leaving almost $1 billion on the table in unclaimed refunds.

    The government said today it has a total of  $950 million that belongs to an estimated one million people across the country who did not file a federal income tax return for the year 2012.

    In DC, the IRS has more than $3 million in potential refunds that's due to taxpayers. In Maryland, there is more than $21 million in refunds out there. 

    And in Virginia, there is more than $26 million.

    If you are one of those taxpayers, there is a looming deadline. To collect the money, you must file a 2012 tax return with the IRS no later than this year's tax deadline, April 18.

    In cases like this one, the law provides most taxpayers with a three-year window to claim a refund.

    Current and prior year tax forms and instructions are available on the IRS.gov Forms and Publications page, or by calling toll-free: 800-TAX-FORM (800-829-3676). Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for the years 2012, 2013 or 2014 should request copies from their employer or bank.

    Taxpayers who are unable to get missing forms from their employer or other payer should go to IRS.gov and use the "Get a Transcript by Mail" button to order a paper copy of their transcript and have it sent to their address of record. Taxpayers can also file Form 4506-T to request a transcript of their tax return. Taxpayers can use the information on the transcript to file their return.