Thursday 14th of December 2017 8:02:15 AM

  • The IRS is Holding $917M of YOUR Money!

    Thursday 14th of March 2013 10:14:06 AM

    The Internal Revenue Service announced today that there are approximately 984,400 U.S. Taxpayers that have failed to file or submit tax returns for 2009. What does this mean to you? It means that if you are one of those 984,400 U.S. Taxpayers then you are missing out on your claim to a portion of $917 Million in refunds!

    Most tax payers did not file because they thought that they would not qualify for a refund or that their adjusted gross income (AGI) was insignificant enough not to file. Regardless of how small your AGI is you can still file and qualify to receive a refund from the taxes that were withheld from your paycheck.

    If you choose to file your 2009 tax returns, the window of opportunity closes promptly Monday, April 15, 2013. Reason for the final date is because the IRS allows a three-year window of opportunity for claiming a refund. The IRS has estimated that about half the potential refunds for 2009 are in excess of $500.00.

    The IRS has also issued a reminder that if you do in fact file for a 2009 tax refund and in the instance that you owe the IRS any monies than the refund will be held back to repay your debt to the IRS. You would also have to be current with your 2010 and 2011 tax returns.

    Not filing your tax return can also cause you to lose your Earned Income Credit (EIC). 2009 EIC is worth up to $5,657.00. It would probably be in your best interest to go forth with filing your past tax returns!

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