IRS Has $1 Billion for People Who Have Not Filed a 2008 Income Tax Return

February 23, 2012 at 12:38 pm (General Tax Information, IRS Information, Personal Taxes)

via the IRS


IRS Has $1 Billion for People Who Have Not Filed a 2008 Income Tax Return

IRS YouTube Videos:
Haven’t Filed a Tax Return in Years?: English | Spanish | ASL

WASHINGTON — Refunds totaling more than $1 billion may be waiting for one million people who did not file a federal income tax return for 2008, the Internal Revenue Service announced today. However, to collect the money, a return for 2008 must be filed with the IRS no later than Tuesday, April 17, 2012.

The IRS estimates that half of these potential 2008 refunds are $637 or more.

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. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.

For 2008 returns, the window closes on April 17, 2012. The law requires that the return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return qualifying for a refund.

The IRS reminds taxpayers seeking a 2008 refund that their checks may be held if they have not filed tax returns for 2009 and 2010. In addition, the refund will be applied to any amounts still owed to the IRS, and may be used to offset unpaid child support or past due federal debts such as student loans.

By failing to file a return, people stand to lose more than refunds of taxes withheld or paid during 2008. Some people, especially those who did not receive an economic stimulus payment in 2008, may qualify for the Recovery Rebate Credit. In addition, many low-and moderate-income workers may not have claimed the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds. The thresholds for 2008 were:

  • $38,646 ($41,646 if married filing jointly) for those with two or more qualifying children,
  • $33,995 ($36,995 if married filing jointly) for people with one qualifying child, and
  • $12,880 ($15,880 if married filing jointly) for those with no qualifying children.

For more information, visit the EITC Home Page on IRS.gov.

Current and prior year tax forms and instructions are available on the Forms and Publications page of IRS.gov or by calling toll-free 800-TAX-FORM (800-829-3676). Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for 2008, 2009 or 2010 should request copies from their employer, bank or other payer. If these efforts are unsuccessful, taxpayers can get a free transcript showing information from these year-end documents by ordering it on IRS.gov, filing Form 4506-T, or by calling 800-908-9946.

Individuals Who Did Not File a 2008 Return with a Potential Refund

State Individuals Median

Potential

Refund

Total

Potential

Refunds ($000)*

 

Alabama

18,400 $641 $15,738
 

Alaska

5,800 $641 $5,952
 

Arizona

29,000 $558 $24,913
 

Arkansas

9,600 $620 $8,152
 

California

122,500 $595 $112,201
 

Colorado

20,500 $589 $18,909
 

Connecticut

12,500 $697 $13,893
 

Delaware

4,200 $644 $3,784
 

District of Columbia

4,000 $642 $3,791
 

Florida

70,400 $650 $66,974
 

Georgia

35,800 $581 $30,661
 

Hawaii

7,600 $714 $8,307
 

Idaho

4,700 $541 $3,878
 

Illinois

40,800 $692 $40,712
 

Indiana

21,800 $664 $19,590
 

Iowa

10,600 $658 $9,295
 

Kansas

11,500 $631 $10,084
 

Kentucky

12,300 $640 $10,501
 

Louisiana

20,500 $662 $18,859
 

Maine

4,000 $579 $3,248
 

Maryland

24,600 $641 $22,591
 

Massachusetts

23,900 $699 $22,957
 

Michigan

33,300 $660 $30,903
 

Minnesota

15,200 $584 $12,772
 

Mississippi

9,900 $591 $8,254
 

Missouri

21,600 $593 $18,213
 

Montana

3,600 $599 $3,192
 

Nebraska

5,100 $623 $4,371
 

Nevada

14,500 $619 $13,381
 

New Hampshire

4,300 $733 $4,518
 

New Jersey

31,300 $716 $31,185
 

New Mexico

8,000 $611 $7,420
 

New York

60,300 $686 $61,240
 

North Carolina

30,800 $558 $24,997
 

North Dakota

2,000 $625 $1,895
 

Ohio

36,400 $622 $31,018
 

Oklahoma

16,800 $620 $14,787
 

Oregon

18,500 $527 $14,819
 

Pennsylvania

38,700 $695 $35,565
 

Rhode Island

3,400 $674 $3,040
 

South Carolina

12,200 $547 $10,158
 

South Dakota

2,300 $669 $2,234
 

Tennessee

18,400 $626 $16,130
 

Texas

96,200 $689 $97,057
 

Utah

7,800 $536 $6,676
 

Vermont

1,700 $647 $1,410
 

Virginia

30,800 $624 $28,670
 

Washington

29,900 $705 $32,138
 

West Virginia

4,300 $687 $4,068
 

Wisconsin

14,100 $592 $11,885
 

Wyoming

2,600 $773 $2,919
Grand Total 1,089,000 $637 $1,009,905

*Excluding the Earned Income Tax Credit and other credits.

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