Author: Aaron Smith
Every year, lots of money in unclaimed tax returns, forgotten retirement, and pension plans are worth millions. According to studies, most of this money goes unclaimed because the recipients changed their address or moved out of their registered address without notifying the tax office about their change of address or relocation.
Before filing for unclaimed tax refund, it is important to where you funds are. These are two places you can check your tax refund.
1. Taxation Departments of the various states
If you just relocated to a different city, there is a good chance that your money is still in possession of the Departments of Taxation in your previous state of residence. State tax refunds and federal tax refunds, are frequently lost in the mail if the recipient changes their name or moves to an undeliverable address. To check for you money, visit the state department’s official website, unclaimed.org. This will help you to know whether your unclaimed funds are still in their possession or not. This website will also allow you to search for you money based on states, territories, or provinces.
2. Internal Revenue Service Database
The Internal Revenue Service has billions of dollars in unclaimed tax refunds in its account. Majority of them were not paid out for various reasons, including incorrect addresses and incorrect bank information.
If you want to hunt down an unclaimed tax refund, you should contact the Internal Revenue Service. It is possible to hunt down misplaced money or unclaimed tax refunds using the IRS database. If you haven’t filed a tax return within a year, you might be owed a refund from the IRS. Note that you must claim any unclaimed refunds within three years of their due date or else, they will be transferred to the account of the US Treasury.
Steps in Filing a Claim for an Unclaimed Tax Refund
- If you haven’t received or requested a refund for more than a year, you may contact the Internal Revenue Service using the IRS official website. You need to submit your Social Security Number (SSN), filing status, and the anticipated refund amount to be verified and protected. After you have provided your information, it will remain on the database until you file a refund claim for the current year.
- However, if your money has been in your possession for more than a year but not more than three years, you may still request a refund.
- If you utilized the Married Filing Jointly Status, we urge that you complete the 3911 form on this page as soon as possible.
- For any other tax status than the ones listed here, contact the IRS at 1-800-829-1954 for assistance.
Conclusion
Tax returns that go unclaimed are worth significantly more than most people think. However, it can be recoveredif it hasn’t been more than three years. You can find your unclaimed funds by searching the State Department of Taxation or Internal Revenue Service databases. Once you discover your money, you may proceed with the return procedure.