IRS: Unclaimed refunds worth $39 million in Ohio

Written on Mar 12, 2018

Unclaimed federal income tax refunds totaling about $1.1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2014 federal income tax return, according to the IRS.

Those numbers include 38,100 Ohioans who are missing a median potential refund of $826 for a total of $38,956,700.

To collect the money, these taxpayers must file their 2014 tax return with the IRS no later than this year's tax deadline, April 17.

The IRS estimates the midpoint for the potential refunds for 2014 to be $847; half of the refunds are more than $847 and half are less.

In cases where a federal income tax return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a tax refund. If they do not file a tax return within three years, the money becomes the property of the U.S. Treasury.

Taxpayers seeking a 2014 tax refund might see their checks held if they have not filed tax returns for 2015 and 2016. 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.

Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). For 2014, the credit was worth as much as $6,143.

Current and prior year tax forms (such as the tax year 2014 Form 1040, 1040A and 1040EZ) and instructions are available on the Forms and Publications page or by calling toll-free 800-TAX-FORM (800-829-3676).

Taxpayers who are unable to get missing forms from their employer or other payer can order a free wage and income transcript at using the Get Transcript Online tool. Alternatively, they can file Form 4506-T to request a wage and income transcript. A wage and income transcript shows data from information returns received by the IRS, such as Forms W-2, 1099, 1098, Form 5498, and IRA contribution Information. Taxpayers can use the information on the transcript to file their tax return.

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