IRS Has $1.1 billion for those who have not filed a 2007 Income - WTVM.com-Columbus, GA News Weather & Sports

IRS Has $1.1 billion for those who have not filed a 2007 Income Tax Return

From IRS.gov

WASHINGTON — 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 today. However, to collect the money, a return for 2007 must be filed with the IRS no later than Monday, April 18, 2011.

The IRS estimates that half of these potential 2007 refunds are $640 or more.

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.

For 2007 returns, the window closes on 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.

By failing to file a return, people stand to lose more than a refund of taxes withheld or paid during 2007. In addition, many low-and-moderate income workers may not have claimed the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds, which in 2007 were $39,783 for those with two or more children, $35,241 for people with one child, and $14,590 for those with no children. For more information, visit the EITC Home Page.

Current and prior year tax forms and instructions are available on the Forms and Publications page of IRS.gov or by calling toll-free 1-800-TAX-FORM (1-800-829-3676). Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for 2007, 2008 or 2009 should request copies from their employer, bank or other payer. If these efforts are unsuccessful, taxpayers can get a free transcript showing information from these year-end documents by ordering on-line, calling 1-800-908-9946, or by filing Form 4506-T, Request for Transcript of Tax Return, with the IRS.

Individuals Who Did Not File a 2007 Return with a Potential Refund


State
 Individuals
 Median

Potential

Refund
 Total

Potential

Refunds ($000)*
 

Alabama  17,600
 $634
 $15,649
 

Alaska  5,200
 $688
 $6,545
 

Arizona  31,000
 $543
 $29,217
 

Arkansas  9,100
 $606
 $8,111
 

California  124,000
 $597
 $129,205
 

Colorado  20,900
 $588
 $21,591
 

Connecticut  11,900
 $714
 $14,769
 

Delaware  4,000
 $658
 $4,121
 

District of Columbia  4,400
 $629
 $4,751
 

Florida  74,500
 $665
 $87,293
 

Georgia  36,800
 $590
 $35,475
 

Hawaii  7,600
 $717
 $8,960
 

Idaho  4,600
 $540
 $4,340
 

Illinois  38,800
 $692
 $44,168
 

Indiana  20,200
 $679
 $19,864
 

Iowa  9,500
 $668
 $8,411
 

Kansas  10,400
 $621
 $9,601
 

Kentucky  11,200
 $660
 $10,449
 

Louisiana  19,500
 $663
 $20,327
 

Maine  3,600
 $606
 $4,398
 

Maryland  25,100
 $645
 $27,727
 

Massachusetts  23,000
 $701
 $26,881
 

Michigan  30,800
 $663
 $31,943
 

Minnesota  14,000
 $604
 $13,786
 

Mississippi  9,400
 $585
 $8,440
 

Missouri  20,300
 $604
 $18,588
 

Montana  3,400
 $607
 $3,185
 

Nebraska  4,700
 $620
 $4,509
 

Nevada  15,000
 $630
 $15,575
 

New Hampshire  3,900
 $741
 $4,960
 

New Jersey  31,000
 $705
 $36,504
 

New Mexico  7,900
 $594
 $7,510
 

New York  62,600
 $706
 $78,405
 

North Carolina  29,300
 $565
 $26,385
 

North Dakota  1,600
 $635
 $1,877
 

Ohio  33,200
 $620
 $30,240
 

Oklahoma  15,200
 $620
 $14,280
 

Oregon  17,600
 $521
 $15,309
 

Pennsylvania  34,600
 $686
 $35,317
 

Rhode Island  3,100
 $644
 $3,380
 

South Carolina  12,400
 $561
 $11,132
 

South Dakota  2,000
 $639
 $1,937
 

Tennessee  17,200
 $633
 $17,049
 

Texas  91,700
 $692
 $104,801
 

Utah  7,600
 $560
 $8,392
 

Vermont  1,700
 $672
 $1,694
 

Virginia  29,800
 $629
 $31,380
 

Washington  28,200
 $702
 $34,692
 

West Virginia  3,500
 $686
 $3,484
 

Wisconsin  12,900
 $593
 $11,609
 

Wyoming  2,700
 $788
 $3,350
 
Grand Total
 1,060,200
 $640
 $1,120,566
 

*Excluding the Earned Income Tax Credit and other credits.

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