COLUMBUS, OH (FOX19) - Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007, the Internal Revenue Service announced Monday. That number includes more than 33,000 Ohioans, due potential refunds totaling more than $30 million.
Half of the potential Ohio refunds are estimated to be $620 or more, according to Jennifer Jenkins, IRS media relations specialist for Ohio.
Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.
To collect the money, a return for 2007 must be filed with the IRS no later than Monday, April 18, 2011. The law requires that the return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return qualifying for a refund.
The IRS reminds taxpayers seeking a 2007 refund that their checks will be held if they have not filed tax returns for 2008 and 2009. In addition, the refund will be applied to any amounts still owed to the IRS, and may be used to offset unpaid child support or past due federal debts such as student loans.
For more information, visit www.IRS.gov/eitc.