- March 8, 2018
- Posted by: Tony
- Category: Uncategorized
US Expats – Have you filed your 2014 US Tax Return
IRS Refunds worth $1.1 billion waiting to be claimed by those who have not filed 2014 federal income tax returns
Claim yours now before you are unable to do so – June 15 is the deadline for US Citizens Living Abroad
WASHINGTON ―Unclaimed federal income tax refunds totaling about $1.1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2014 federal income tax return, according to the Internal Revenue Service.
To collect the money, these taxpayers must file their 2014 tax return with the IRS no later than this year’s tax deadline, Tuesday, April 17.
“We’re trying to connect a million people with their share of $1.1 billion in unclaimed refunds for 2014,” said Acting IRS Commissioner David Kautter. “Time is running out for people who haven’t filed tax returns to claim their refunds. Students, part-time workers and many others may have overlooked filing for 2014. And there’s no penalty for filing a late return if you’re due a refund.”
The IRS estimates the midpoint for the potential refunds for 2014 to be $847; half of the refunds are more than $847 and half are less.
In cases where a federal income tax return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a tax refund. If they do not file a tax return within three years, the money becomes the property of the U.S. Treasury. For 2014 tax returns, the window closes April 17 (June 15 for US citizens living abroad), 2018. The law requires taxpayers to properly address, mail and ensure the tax return is postmarked by that date.