IRS: $1.3 billion still unclaimed for ’06, and deadline looms

By doris | Published: March 11, 2010

Full Story at CNN.com

CNN) — Some people who didn’t file a federal tax return for 2006 have more than 1 billion reasons to reconsider, but they need to do it fast, according to the Internal Revenue Service.

The IRS says it has more than $1.3 billion in refunds for 1.4 million people who didn’t file a 2006 return. But to collect the cash, they will have to file for that year by April 15.

Otherwise, the money will become the property of the U.S. Treasury, as happens with all tax refunds that aren’t claimed within three years.

The IRS estimates the median unclaimed refund for 2006 nonfilers is $604. California is the state with the most nonfilers who qualify for refunds from that year (159,700), with Texas (109,600) and Florida (101,700) right behind.

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