Time is running out to claim tax refunds from 2009. The current amount of unclaimed refunds equals $917 million and is owed to 1 million people nation wide. Of the 1 million people, 100,700 are from California.
Taxpayers have until April 15 to claim the refunds without incurring a penalty. Most of the refunds are more than $500.
Some people may not have filed for 2009 tax returns because they made too little money and were not required to file. If income taxes were withheld from their pay, they may be entitled to refunds now.
In cases when taxes were not filed, taxpayers have a three year time period to file. If not filed before then, the money becomes part of the U.S. Treasury
The refunds may be withheld if the taxpayer did not file taxes in 2010 or 2011. Refunds may also be applied to current amounts still owed to the IRS or state tax agency.
For more information concerning this topic, contact your tax professional and visit the IRS website.