Sunday, March 5, 2017

People Who Have Not Filed a 2013 Federal Income Tax Return

IRS YouTube Videos:
Refund: Claim It or Lose It – English | Spanish | ASL 

IR-2017-50, March 1, 2017                                                                               Español
WASHINGTON — The Internal Revenue Service announced today that unclaimed federal income tax refunds totaling more than $1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2013 federal income tax return.
To collect the money, taxpayers must file a 2013 tax return with the IRS no later than this year's tax deadline, Tuesday, April 18.
"We’re trying to connect a million people with their share of 1 billion dollars in unclaimed refunds for the 2013 tax year,” said IRS Commissioner John Koskinen. “People across the nation haven’t filed tax returns to claim these refunds, and their window of opportunity is closing soon. Students and many others may not realize they’re due a tax refund. Remember, there’s no penalty for filing a late return if you’re due a refund.”
The IRS estimates the midpoint for potential refunds for 2013 to be $763; half of the refunds are more than $763 and half are less.
In cases where a tax return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If they do not file a return within three years, the money becomes the property of the U.S. Treasury. For 2013 tax returns, the window closes April 18, 2017. The law requires taxpayers to properly address mail and postmark the tax return by that date.
The IRS reminds taxpayers seeking a 2013 refund that their checks may be held if they have not filed tax returns for 2014 and 2015. In addition, the refund will be applied to any amounts still owed to the IRS, or a state tax agency, and may be used to offset unpaid child support or past due federal debts, such as student loans.
By failing to file a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2013. Many low-and-moderate income workers may have been eligible for the Earned Income Tax Credit (EITC). For 2013, the credit was worth as much as $6,044. The EITC helps individuals and families whose incomes are below certain thresholds. The thresholds for 2013 were:
  • $46,227 ($51,567 if married filing jointly) for those with three or more qualifying children;
  • $43,038 ($48,378 if married filing jointly) for people with two qualifying children;
  • $37,870 ($43,210 if married filing jointly) for those with one qualifying child, and;
  • $14,340 ($19,680 if married filing jointly) for people without qualifying children.
Current and prior year tax forms (such as the Tax Year 2013 Form 1040, 1040A and 1040EZ) and instructions are available on the IRS.gov Forms and Publications page or by calling toll-free: 800- TAX-FORM (800-829-3676). Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for the years 2013, 2014 or 2015 should request copies from their employer, bank or other payer.
Taxpayers who are unable to get missing forms from their employer or other payer should go to IRS.gov and use the “Get Transcript Online” tool to obtain a Wage and Income transcript.  Taxpayers can also file Form 4506-T to request a transcript of their 2013 income. A Wage and Income transcript shows data from information returns we receive such as Forms W-2, 1099, 1098 and Form 5498, IRA Contribution Information. Taxpayers can use the information on the transcript to file their tax return.
State-by-state estimates of individuals who may be due 2013 tax refunds:

State or District
Estimated
Number of
Individuals
Median
Potential
Refund
Total
Potential
Refunds*
Alabama
18,100
$729
$17,549,000
Alaska
4,700
$917
$5,665,000
Arizona
24,800
$650
$22,642,000
Arkansas
9,900
$722
$9,571,000
California
97,200
$696
$93,406,000
Colorado
20,200
$699
$19,454,000
Connecticut
11,500
$846
$12,691,000
Delaware
4,300
$776
$4,321,000
District of Columbia
3,200
$762
$3,341,000
Florida
66,900
$776
$67,758,000
Georgia
34,400
$671
$32,082,000
Hawaii
6,500
$793
$6,876,000
Idaho
4,500
$619
$3,919,000
Illinois
40,000
$834
$42,673,000
Indiana
21,700
$788
$22,060,000
Iowa
10,200
$808
$10,193,000
Kansas
11,100
$746
$10,700,000
Kentucky
12,900
$772
$12,627,000
Louisiana
20,300
$767
$21,209,000
Maine
4,000
$715
$3,645,000
Maryland
22,200
$770
$23,080,000
Massachusetts
23,000
$838
$24,950,000
Michigan
33,600
$763
$33,998,000
Minnesota
15,600
$691
$14,544,000
Mississippi
10,400
$702
$10,041,000
Missouri
22,400
$705
$20,787,000
Montana
3,600
$727
$3,480,000
Nebraska
5,300
$745
$5,084,000
Nevada
12,300
$753
$12,078,000
New Hampshire
4,400
$892
$4,930,000
New Jersey
29,900
$873
$33,207,000
New Mexico
8,100
$753
$8,162,000
New York
54,700
$847
$59,416,000
North Carolina
29,800
$656
$26,874,000
North Dakota
2,900
$888
$3,209,000
Ohio
36,000
$749
$34,547,000
Oklahoma
17,700
$773
$17,979,000
Oregon
15,500
$658
$14,188,000
Pennsylvania
39,400
$835
$41,078,000
Rhode Island
2,900
$796
$2,906,000
South Carolina
12,100
$674
$11,267,000
South Dakota
2,700
$823
$2,709,000
Tennessee
19,500
$743
$18,829,000
Texas
104,700
$829
$115,580,000
Utah
7,900
$667
$7,443,000
Vermont
2,000
$747
$1,859,000
Virginia
29,000
$752
$29,578,000
Washington
27,600
$829
$30,330,000
West Virginia
5,000
$855
$5,258,000
Wisconsin
12,700
$675
$11,619,000
Wyoming
2,800
$911
$3,189,000
Totals
1,042,100
$763
$1,054,581,000

* Excluding the Earned Income Tax Credit and other credits.

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