People never have excess money, especially when the issue refers to ordinary tax payers, for whom even an insignificant sum may be of great use. The Internal Revenue Service (IRS) has introduced a list of tax payers who are owed a certain sum of money on its part.
According to Susan Tompor, the columnist from Free Press, IRS agency released its annual list of local taxpayers with unclaimed tax refunds on Wednesday, from which it turns out that this year has been marked by a considerable amount owed by IRC to the US tax-payers. Their number, nationwide, approximately comprises 115,478 people. They are owed about $110 million, or $953 each on average. These figures are 21% higher, in comparison with the previous year.
But a serious problem has occurred in respect of refund checks delivery, which failed to reach their owners due to some misunderstanding connected with county ZIP code or wrongly entered data at irs.gov official internet page.
As it is mentioned by Globe Newspaper Company, the point is that in the majority of cases the problem arises because the tax-payer moves to some other place of inhabitance and doesn’t inform his/her new address to the IRS or the Post Service. Thus, the sum can reach its owner only in case he/she updates the new address with the IRS.
Among other reasons of failed deliveries, as agency spokesman Kevin B. McKeon says, there can be named cases, when the tax-payer changes his/her name as through marriage or divorce and doesn't inform IRS about it, or when he dies and the estate’s executor is unaware that the refund went unclaimed.
"It was an unprecedented event," McKeon said. "There are people who normally wouldn't have to file a return who filed because this phone tax refund was available. Some may have moved and not let us know."
According to the agency spokesman Peggie Riley, undelivered refunds comprise less than one-tenth of 1 percent of all refunds.
In order to make it easier for people to get their refunds or just simply to learn whether they are owed any, David Robinson from News Business informs in his report that they can visit IRS Wed site at www.irs.gov and follow “Where’s my refund?” feature, which will help them have refunds deposited directly into their bank accounts. To get any information on this issue they must enter their Social Security number, filing status and refund amount.
Worth mentioning is the fact that all the undelivered refunds stay with the person's account for as long as he updates his new address with the IRS and it is also very important that the refunds held by IRS don't earn any interest.
Among the refunds there can also be named one-time Telephone Excise Tax Refunds the aim of which is to return previously-collected long-distance telephone taxes.
IRS introduces the most prominent refund figures in a number of states, with the lost taxpayers taken into account:
- The list of Michigan tax-payers comprises 2,480 people, owed more than $2.29 million.
- Massachusetts taxpayers are owed $3 million - or an average of more than $1,000 each.
- The refunds of Western New York district, which includes the Buffalo, Rochester and Binghamton areas, is worth a total of $379,775.
- Illinois counts 4,228 taxpayers who are due refund checks worth more than $4 million, with the average refund totaling about $947.
- Wisconsin taxpayers are due nearly $849,000 in refunds, whose checks were undeliverable and there are about 1,200 taxpayers on the list waiting to receive their checks in.
- The lost taxpayers in the Lower Hudson Valley are among the 8,722 taxpayers all round the states who are due $10.5 million in refund checks. The average amount of those refund checks is about $1,204.
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