Leaving Money on the Table: IRS Says It Has Over $1B in Unclaimed Refunds


Leaving Money on the Table: IRS Says It Has Over $1B in Unclaimed Refunds

Mar, 14th 2017

More than $1 billion is waiting for one million people. No, this isn't one of those crazy sweepstakes that try to scam you into putting money on an iTunes card to claim your prize.

We're talking about real money, not fake cash here.

The Internal Revenue Service says that its unclaimed federal income tax refunds total more than $1 billion. The refunds apply to an estimated one million taxpayers who did not file a federal tax return for 2013. The IRS figures are an estimate and reflect W-2 withholding information.

Experts note that when the actual returns are filed, the refunds could be more or less than what some filers would expect based on other income and deductions, filing status and exemptions.

The good news: It's still possible to claim some of this money. Half of the refunds are for more than $763, according to IRS data.

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