$917M in 2009 IRS refunds unclaimed

WASHINGTON — If you didn’t bother filing a federal tax return for 2009, it might be a good time to rethink your tax strategy.

The Internal Revenue Service says it has $917 million in unclaimed tax refunds from 2009, and time is running out to claim them.

The refunds are owed to nearly 1 million people who failed to file returns for 2009. Taxpayers must file their 2009 returns by April 15 to claim their refunds. If taxpayers don’t file returns, the law says they have a three-year window to claim refunds. After that, the money becomes property of the U.S. Treasury.

The IRS says there is no penalty for filing a late return that qualifies for a refund. But the agency says refunds may be delayed if taxpayers also failed to file returns for 2010 and 2011.

The government can also withhold tax refunds to settle unpaid federal and state taxes, as well as unpaid child support and past due student loans.

People in every state and the District of Columbia are owed refunds, including 100,700 people in California and 86,000 people in Texas, the IRS said. Most of the refunds exceed $500.

Some people may not have filed tax returns because they made too little money and weren’t required to file, the IRS said. However, if they had federal income taxes withheld from their pay, those people may be entitled to refunds.

Also, many low- and middle-income people who didn’t file returns may be missing out on the Earned Income Tax Credit. In 2009, a married couple with three or more children could earn up to $48,279 and qualify for the credit. Income thresholds are lower for couples and single filers with fewer children.



Unclaimed refunds by state: http://tinyurl.com/atk4kd7


Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatap

More in Herald Business Journal

3 must-try doughnuts when Top Pot opens in Edmonds

After two years of work, the popular Seattle chain is opening its second Snohomish County location.

Mother-in-law homes popular after cities ease restrictions

Lynnwood and Everett are seeing a spurt of growth after changing city codes to allow for this development.

Facebook bans Trump-affiliated data firm Cambridge Analytica

The company allegedly held onto improperly obtained user data after claiming to have deleted it.

Boeing’s newest 737 Max makes first flight over Seattle

Prospects for the new aircraft — the Max 7 — are hazy, as low-cost carriers migrated to larger models.

Boeing’s an early casualty as investors dig in for trade war

The company’s share price is headed toward its biggest weekly slump in more than two years.

A niche Bothell publisher is becoming a mortgage matchmaker

Scotsman Guide has long served lending professionals. Now it’s offering information to borrowers.

Premera pledges $250M of tax cut to health coverage, charity

Cocoon House is among the beneficiaries, receiving $1.6 million from the non-profit health insurer.

Surge in airline hiring boosts interest in aspiring pilots

Boeing predicts that the U.S. will need 117,000 new pilots by 2036.

Superstore chain Fred Meyer to stop selling guns, ammunition

Guns have been sold at nearly 45 of more than 130 stores in Oregon, Washington, Idaho and Alaska.

Most Read