Over 30,000 Georgians may be due a refund on their 2012 federal income taxes. Taxpayers have until April 18 to file a 2012 return to obtain the refund that they are due. The Newnan Times Herald reports:
IRS has $29 million for Georgia taxpayers
Refunds totaling $950 million may be waiting for an estimated one million taxpayers in the nation who did not file a federal income tax return for 2012. In Georgia, over $29 million in unclaimed refunds awaits 34,300 individuals. However, to collect the money, a return for 2012 must be filed with the IRS no later than Monday, April 18.
“Time is running out if you want to get your refund,” said IRS Spokesman Mark Green. “Taxpayers should review their 2012 statements for refundable credits and withholdings. We want all taxpayers to get the refund they’re due. We estimate that the median unclaimed refund for tax-year 2012 in Georgia is $642”, added Green.
“In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund,” said Green. “If no return is filed to claim the refund within three years, the money becomes property of the U.S. Treasury.”
There is no penalty for filing a late return qualifying for a refund.
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 make 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 2012 tax returns, the window closes on April 18 (or April 19 for taxpayers in Maine and Massachusetts). The law requires the tax return to be properly addressed, mailed and postmarked by that date…
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