$1,000 More Reasons to File
by Craig Jennings, 3/20/2008
About 1.3 million American are owed an average of $1,000 each by the IRS for unclaimed refunds on their 2004 federal income tax returns, the IRS announced yesterday. To get the refund, taxpayers need to file 2007 returns, giving them another eason to do so, even if they earned no taxable income in calendar 2007. Doing so also qualifies them for a stimulus package rebate check (see our blog on rebate resources).
As the IRS press release says:
If no return is filed to claim the refund within three years, the money becomes property of the U.S. Treasury. For 2004 returns, the window closes on April 15, 2008.
Time is getting short for claiming the tax refund you may be entitled to. But you can't get it unless you file the tax return. Don't take a chance on losing your tax refund. And this year, remember that you need to file a 2007 tax return in order to receive an economic stimulus payment.
Getting the word out about the stimulus rebate is particularly tricky, since millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive the stimulus payment.
Image by Flickr user Birmingham Public Library used under a Creative Commons license
