That’s right, every year tons of people don’t get their IRS refunds and don’t even know it. The IRS has millions of dollars of unclaimed refunds and here’s how to find out if you have money coming to you.
You can call the IRS toll free at 800-829-1040 to find out whether you have an unclaimed refund waiting for you. This number will also put you in touch with someone who can give you the status of your refund, if you have one coming. Here’s their web page on unclaimed refunds.
Why do people leave money sitting at the IRS?
Well it happens for a few different reasons. First, if the address is wrong on your tax return, and you chose to have your check mailed to you well that check bounces right back to the IRS and sits, waiting for you to claim it.
Secondly, if you didn’t file a tax return because you made so little the IRS didn’t require you to file, you may still have a refund waiting for you. That’s because you may have had taxes withheld from your salary. If you made under a certain amount, that withholding is due back to you.
Third main reason why people don’t get their refunds in the Earned Income tax credit. If you didn’t file because you made so little that year, you might still be due a refund because of this earned income credit. That’s even if you had no money withheld from your paychecks.