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Get a nice warm feeling when your tax refund check comes in? Well, you might want to check if you got it for your 2003 taxes. Over 2 billion went unclaimed and are about to expire. Feel like taxes are too high? Of course you do. It is a god given write of Americans to complain about taxes. That being said, you lose the right to complain if you don’t follow up on money the IRS owes you. For the 2003 tax year, 1.8 million Americans have failed to do so to the tune of a whopping 2.2 billion dollars. Imagine balancing your bank account and finding you had TWO BILLION dollars more than you should. Well, this is what the IRS found for the 2003 tax year. Yes, taxpayers have left a couple billion dollars on the table. This averages out to more than a grand per person that failed to claim the refunds. There are roughly 1.8 million of you. You are probably wondering how so many people could leave tax refunds at the IRS. It is often a matter of record keeping. Most of us make mistakes here and there and they add up. 1. You just didn’t file a tax return because of family or personal matters. 2. You worked on and off and forget you paid taxes during one of the on times out of your paycheck. 3. Tax refunds are not forwarded by the postal office if you moved. 4. Lower income individuals failing to claim the EITC. 5. Worked for a short time at a job, but didn’t get a W-2? You might have forgotten the taxes. Can you imagine just throwing 1,000 out the window of your car? If you haven’t claimed your 2003 refund, you are about to do just that. After April 17th of 2007, it expires. That’s right, you lose it and the IRS gets to spend it as it wishes! 2003 may seem like a long time ago, but a trip to the past can be profitable. If you could use an extra grand, and who can’t, you may be able to get it by checking your records for the year. Don’t assume you received a refund. Make sure. You might just be surprised.
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About The Author Richard A. Chapo is with BusinessTaxRecovery.com - your resource for tax articles. You can get a unique content version of this article.
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