Posts Tagged "Tax refunds"

IRS has $1 billion of unclaimed refunds

Posted on Mar 6, 2012

The IRS has just announced that more than $1 billion in tax refunds for the year 2008 remain unclaimed by a million taxpayers who failed to file a return for that year. The tax law provides a three-year period for claiming a refund when no return is filed. That means these individuals must file a tax return for 2008 no later than Tuesday, April 17, 2012, or their refunds will be...

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Tax refunds may be delayed this year

Posted on Jun 1, 2010

Your tax refund may be a little slow in coming this year. Problems relating to the Making Work Pay Credit, Economic Recovery Payments, and the Homebuyer’s Credit are creating delays in refunds.  The IRS is reminding taxpayers that the status of refunds can be checked at the IRS website (www.irs.gov). Click on “Where’s My Refund?” For those without Internet access, refund status can be checked by calling IRS toll-free numbers: IRS Refund Hotline at 800-829-1954 or IRS TeleTax System at 800-829-4477.  When checking the status of your refund, have your federal tax return handy and be prepared to give your social security number, your filing status, and the exact whole dollar refund amount shown on the tax...

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New way to use your tax refund

Posted on Feb 23, 2010

If you’re receiving a tax refund this year, you can use it to buy U.S. savings bonds from the IRS. Here are the details. * You may purchase up to $5,000 in U.S. Series I savings bonds. * The total amount of bonds you purchase must be a multiple of $50. Any refund over the specified bond purchase amount must be deposited into another financial account, such as a checking or savings account. * Bonds will be issued in your name. If you’re married and file a joint return, the bonds will be issued in the names of both spouses. * The bonds will be sent to you by mail. * You select this option when filing your 2009 return by using Form 8888, “Direct Deposit of Refund to More Than One Account.” * Form 8888 gives instructions on selecting this option and specifying the amount of refund you want to use to buy savings...

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