Paul L. Caron
Dean


Wednesday, March 3, 2010

Taxpayers Have $1.3 Billion in Unclaimed Refunds

IRS Logo The IRS announced yesterday (IR-2010-24) that 1.4 million people have more than $1.3 billion in unclaimed tax refunds for the 2006 tax year sitting in the IRS's coffers. The median unclaimed refund is $604.  The deadline for requesting a refund is April 15, 2010.  Here is the state-by-state breakdown of the unclaimed refunds:

Individuals

Median Refund

Total Refunds ($000)*

Alabama

21,800

$608

$18,839

Alaska

6,300

$693

$6,997

Arizona

39,900

$507

$33,921

Arkansas

11,800

$579

$10,543

California

159,700

$554

$150,640

Colorado

25,200

$531

$23,119

Connecticut

15,500

$686

$18,676

Delaware

5,200

$622

$5,297

District of Columbia

5,100

$601

$5,448

Florida

101,700

$641

$110,709

Georgia

45,700

$560

$42,642

Hawaii

9,500

$668

$10,658

Idaho

5,800

$482

$4,723

Illinois

51,400

$655

$54,740

Indiana

26,600

$641

$24,146

Iowa

12,200

$596

$9,990

Kansas

13,400

$586

$11,771

Kentucky

14,500

$610

$12,976

Louisiana

23,800

$641

$24,615

Maine

4,900

$561

$4,203

Maryland

30,800

$616

$29,938

Massachusetts

29,000

$669

$31,939

Michigan

42,800

$618

$40,790

Minnesota

18,900

$552

$16,227

Mississippi

11,800

$567

$10,120

Missouri

25,800

$561

$21,090

Montana

4,000

$530

$3,425

Nebraska

6,100

$590

$5,390

Nevada

19,400

$575

$19,163

New Hampshire

5,400

$706

$5,943

New Jersey

39,900

$666

$43,030

New Mexico

9,800

$560

$8,612

New York

76,700

$666

$87,563

North Carolina

39,100

$539

$32,919

North Dakota

2,100

$589

$1,875

Ohio

44,600

$593

$38,467

Oklahoma

18,200

$576

$15,779

Oregon

21,900

$490

$18,340

Pennsylvania

47,100

$652

$45,050

Rhode Island

4,300

$652

$4,231

South Carolina

16,400

$534

$13,810

South Dakota

2,500

$604

$2,193

Tennessee

22,200

$598

$19,756

Texas

109,600

$653

$114,720

Utah

9,200

$528

$9,592

Vermont

2,200

$565

$1,782

Virginia

40,600

$594

$39,460

Washington

37,100

$641

$39,713

West Virginia

4,800

$660

$4,775

Wisconsin

17,000

$564

$14,903

Wyoming

2,900

$691

$3,229

US Armed Forces

4,800

$821

$4,367

US Possessions & Territories

200

$887

$444

Totals

1,367,200

$604

$1,333,288

*Excluding the Earned Income Tax Credit and other credits.

https://taxprof.typepad.com/taxprof_blog/2010/03/taxpayers-have-.html

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Comments

Better get that refund before the government seizes it or the currency is inflated to monopoly money.

Seriously, getting 1.3 billion back into the productive economy will have a measurable effect in countering the economic policies of the administration and congress.

Posted by: Thucydides | Mar 3, 2010 5:52:14 PM