Millions Owed to Americans for Unfiled Tax Returns for 2012

Don’t Miss this Deadline to File for Unfiled Tax Returns for 2012

Money is waiting to be returned for unfiled tax returns for 2012. But the deadline is quickly running out.

$950 Million Owed for Unfiled Returns for 2012 | CowderyTax.com

The IRS has recently announced that Federal income tax refunds totaling $950 million are waiting to be returned to tax payers who failed to pay their 2012 tax return. It could be you, if you did not file for the 2012 tax year.

In order to collect monies that may be owed a taxpayer must file a 2012 return no later this year’s April tax deadline.

“A surprising number of people across the country overlook claiming tax refunds each year. But the clock is ticking for taxpayers who didn’t file a 2012 federal income tax return, leaving nearly $1 billion in refunds unclaimed,” said IRS Commissioner John Koskinen. “We especially encourage students and others who didn’t earn much money to look into this situation because they may still be entitled to a refund. Don’t forget, there’s no penalty for filing a late return if you’re due a refund.”

They are estimated that the median potential refund for those filing a late, 2012, return would be about $718.

Federal law allows taxpayers to file returns within a 3 year windo for claiming a refund. If a retuned is not filed, within that deadline, the remaining unclaimed refunds become the property of the U.S. Treasury.

That means that because this year allows for 3 extra days for the 2015 filing season, so too, does the 2012 late filings. But, the window closes on April 18, 2016.

Additionally, if you haven’t filed for the 2012 tax season, you may be missing out of the Earned Income Tax Credit for that year. For some, that credit is worth more than $5000.

Remember, there are no penalties for filing late if you are owed money.

To file for the current or past tax years back to 2012, call us today. We’d be happy to help you get the maximum refund owed to you. 740•374•6942.

*Photo Credit: TaxCredits.net – Available at Flickr.com