Time is running out for 2010 tax refunds
The IRS has issued its annual advisory about unclaimed refunds - a reminder that the window to claim the money is closing.
The advisory deals with the 2010 tax year. A return for the 2010 tax year must be filed by April 15th to claim a refund. The IRS says unclaimed refunds for that year total $760 million and involve more than 900,000 taxpayers. More than $9 million of the money is for Minnesota taxpayers.
It’s estimated more than half of the individual refunds are for more than $500. The IRS says 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. If the refunds are not claimed, the U.S. Treasury will keep the money.