Over nine hundred million dollars in tax refund money went unclaimed in one year. The Internal Revenue Service reported this notable statistic, and you may wonder how this could happen. There are two main circumstances that lead to unclaimed tax refunds. Read more about getting your free edition of TurboTax.
You may end up creating an unclaimed tax refund situation if you have taxes withheld from your pay but earn less than needed for filing a refund. You will end up adding to the unclaimed refund pool if you choose not to file a tax refund. You should verify whether you qualify for an Earned Income Tax Credit, and the www.turbotax.com free edition can help you determine your eligibility.
The second reason for most cases of unclaimed tax refunds involves mailing errors. You may not receive tax filing confirmation if you have moved, changed your name, … Read the rest