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Get a nice warm feeling when your tax refund check comes in? Well, you might want to check if you got it for your 2003 taxes. Over 2 billion went unclaimed and are about to expire. Every thought of sending the IRS a nice big thank you note in the form of a thousand dollars or so? Probably not unless you are dating an IRS agent! Well, nearly 2 million taxpayers are about to do that. Over 2 BILLION dollars in unclaimed tax refunds for 2003 are about to permanently become the property of the IRS. How does $1,200 sound? What could you do with it this month? Heck, you could even fill up your car at the gas station a couple of times. Okay, maybe twice given the outrageous gas price increases, but the money would clearly help. Well, $1,200 is the average tax refund due to people that failed to claim theirs in 2003! You are probably wondering how so many people could leave tax refunds at the IRS. It is often a matter of record keeping. Most of us make mistakes here and there and they add up. 1. You just didn’t file a tax return because of family or personal matters. 2. If you left a salaried job and opened your own business, you can easily overpay. 3. You moved and didn’t tell the IRS. 4. Lower income individuals failing to claim the EITC. 5. Worked for a short time at a job, but didn’t get a W-2? You might have forgotten the taxes. Can you imagine just throwing 1,000 out the window of your car? If you haven’t claimed your 2003 refund, you are about to do just that. After April 17th of 2007, it expires. That’s right, you lose it and the IRS gets to spend it as it wishes! I could always use an extra grand or so. How about you? A vast majority of readers should be nodding their head in the affirmative. If you are one of them, take the time to go back and check your 2003 tax records. You might just find the grand sitting there.
Article Source: http://www.financemanual.com
Richard A. Chapo is with BusinessTaxRecovery.com - your resource for tax articles. Don't reprint this article. Instead, reprint a free unique content version of this same article.
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