BOISE -- The Internal Revenue Service is warning Idahoans that around $4.3 million in tax refunds for the tax year 2007 has gone unclaimed, and the deadline to get that money is fast approaching.
The IRS says they are waiting for about 4,600 Idahoans to file a federal tax return for 2007. To collect the money, you must file a return by April 18, 2011.
“In Idaho, the IRS estimates that half of those who could claim refunds for tax year 2007 would receive more than $540,” said IRS spokesperson Karen Connelly.
Nationwide, unclaimed refunds totaling more than $1.1 billion are awaiting nearly 1.1 million people who did not file a federal income tax return for 2007. The IRS estimates that half of those who could claim refunds for tax year 2007 would receive more than $640.
Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments.
If you fail to file a tax return within three years that money becomes the property of the U.S. Treasury. There is no penalty for filing a late return qualifying for a refund.
Current and prior year tax forms and instructions are available on the Forms and Publications page of IRS.gov or by calling toll-free 1-800-TAX-FORM.
