IRS: More than 80,000 Texans have unclaimed tax refunds

The IRS says more than 80,000 Texans have unclaimed refunds on average of $588. And there's a free service to help you get it
March 25, 2014 8:24:53 PM PDT
Taxpayers have just under 3 weeks to get their returns filed, but for thousands of Texans if they don't act fast, more than 70 million dollars in refunds will be gone for ever.

Across the country more than $700 million in refunds are unclaimed, but if any of that money is yours, time is running out to claim it.

Katherine Beckner helps hundreds of people file their taxes for free each year at Houston's Neighborhood Tax Centers. Some of those Beckner helps have refunds coming to them from as far back as 2010 but have left the money sitting with the IRS.

"Sometimes it's that the amount that they are getting back, they don't think is that much and if they are not aware of the free service that we provide, they don't think it is worth paying someone," she said.

Beckner says in some cases taxpayers may not have the proper W-2s or other forms. The amount of unclaimed cash can be significant.

"Refunds can be several hundred to even, not usually in the thousands, but usually several hundred dollars," she said.

The IRS says more than 80,000 Texans have unclaimed refunds on average of $588. It adds up to nearly $72 million.

Taxpayers can go to IRS.gov and get a tax return transcript to find out about missing refunds. But time is running out, Houston CPA Bob Martin says.

"There is a statute of limitations, the government knows that people will procrastinate and so they put a line in the sand and said if you do not file your return by a certain time -- even if you are owed money -- you are not going to get back your refund," Martin said.

The government only gives you three years to claim a past refund, so that means if you are due a refund on your 2010 taxes, file this year or lose it forever.

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