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Unclaimed 2013 IRS Refunds

If you, or someone you know, is owed a refund for 2013 federal taxes, the deadline for unclaimed 2013 IRS refunds is almost upon you.  April 18th of this year is the last day to file a personal income tax return for the 2013 tax year and still be able to claim a refund for that tax year.

The Internal Revenue Service sent out a notice a few days ago reminding taxpayers of the looming deadline.  In IRS Notice 2017-72, the IRS alerted taxpayers to the fact that time is running out to collect unclaimed 2013 IRS refunds.  To claim the refund, taxpayers need to file their 2013 personal income tax return by April 18, 2017.  Completing and signing the return, then properly addressing and mailing it on or before April 18, 2017 is all that’s necessary to claim the 2013 refund.

What’s the Magnitude of Unclaimed 2013 IRS Refunds?

How often does that happen you might ask.  The answer is, more often than you might think.  The IRS advises taxpayers that it currently has more than $1 billion in unclaimed 2013 federal refunds.  It also estimates that it may owe the money to more than one million taxpayers who have, so far, failed to file their 2013 income tax return.  Unclaimed 2013 IRS refunds average approximately $763.00.

People such as students or part-time workers often don’t file tax returns because their income is below the threshold requiring a filing.  But if they had taxes withheld from their paycheck in 2013, they may still have an IRS refund waiting for them.  Others, such as those that qualify for the Earned Income Tax Credit, or EITC, need to file a tax return to claim the credit.  Low- and moderate income workers whose income falls below certain threshold limits often qualify for that credit.  Those 2013 limits were$14,340.00 for people without qualifying children and gradually rises to $46,227.00 for those with two or more qualifying children.   IRS Publication 596 provides more detailed information about the EITC.

Get The Help You Need

If you’re a taxpayer and have overdue tax returns, call one of our Upstate New York tax attorneys or New York City tax attorneys today.  With over 30 years’ experience and with offices in Albany, New York City, Rochester, Syracuse, Utica and Watertown,we have a New York tax attorney ready, willing and able to help you.

by Joseph M. Callahan, Esq.