The IRS Owes Americans Nearly $1 Billion in Tax Refunds from 2013

Nick Sanchez
March 4, 2017

There's no penalty for filing a late return if you're due for a refund, according to the IRS.

The significant slowdown earlier in the month was said to be due to the IRS's delay until February 15 in processing returns claiming the earned income tax credit and the additional child tax credit.

Although the monetary value of the refunds amount to a billion dollars, the IRS reports that the average refund per person amounts to $763.

Tax season is upon us, and consumers across the country are getting ready to file their federal income tax return if they haven't aleady. The EITC was worth as much as $6,044 in 2013. About half of those refunds are for more than $829. If they don't file a return within those three years, the money becomes the property of the U.S. Treasury.

"If you were a student with a summer job and you didn't necessarily make enough money to have to file a tax return, but if you had money withholding, you might actually have a refund coming back", Clay Sanford IRS spokesperson said. Taxpayers can also file Form 4506-T to request a transcript of their 2013 income. But he says the IRS can help with that.

The full list of states with their potential refunds can be found here.

Federal prosecutors say Moore, who also goes by Leona McDonald, operated a tax preparation business that she alternately called Leona Moore Tax Services or Moore's Tax Service.

For more information, visit the IRS site here.

Other reports by Ligue1talk

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