IRS unclaimed money - is there some of it sitting there that belongs to you?
February 25, 2004, NEW YORK (CNN/Money) – "The IRS reported that there are unclaimed refunds totaling $2.5 billion from tax year 2000 and nearly 2 million people are owed money. And it estimates that more than half of those individuals would receive more than $529 apiece. The states where residents can expect the highest median refunds are: New Hampshire ($616), Connecticut ($602), and Illinois ($575). Those who were in the armed forces in 2000 will see an even higher median expected refund of $641. And taxpayers who lived abroad have the highest median refund of all: $1,000."
IRS Unclaimed Money Search and more. Dig real deep... Chances are you are eligible for some impressive refund. No one really cares, if you don't. Wish to find out if you have you IRS unclaimed money kept by stae, but don't know how?
According to the IRS $73 million in tax refunds checks that were mailed to taxpayers in 2005 were bounced by the Post office as undeliverable due to the taxpayers postal address change. Many people had moved never caring to leave a forwarding address. The others had stated incomplete or illegible address. Thus more than 84,000 taxpayers got their IRS refunded money placed into the government custody until the funds in question are reclaimed - if ever. By the way, $660,000 of that money belongs to Oklahoma residents. Even if the IRS spokesperson claims the owed money in question will eventually make their way to its rightful owners during their next tax return filing, according to the other sources the IRS keeps holding more than $6 billion unclaimed money in the form of unclaimed refunds. Since 2003 the IRS administers a letter-forwarding program that could help plan administrators contact missing retirement plan participants (or possibly their beneficiaries). To inform individuals of their rights to benefits under a retirement plan, the IRS will forward letters from plan administrators to the missing individuals if the administrators provide the names and social security numbers (SSNs) of the missing individuals. However, the IRS cannot disclose individuals' addresses or give confirmation of letter delivery. All undelivered letters will be destroyed. For further information, see Rev. Proc. 94-22, 1994-1 C.B. 608
