The IRS says it has more than 2.5 billion dollars in unclaimed tax refunds, and your name could be on that list.
Those tax refunds are from the year 2000. The government is just waiting for the money to be claimed, but time is running out. Officials with the Internal Revenue Service say that there's just one catch. In order to claim the refund, people have to file a tax return first. The IRS says sometimes students, retirees, and part-time workers don't file because their income level does not require them to file, but that can cost you.
"Often times students have part-time jobs, and they may not earn enough money to require filing a tax return, but their employer may have been withholding income from them, withholding taxes over the year, and they just don't file for some reason, they may not know or it may not be enough money," said Phil Beasley, an IRS representative.
If your name is on the list of unclaimed refunds, time is running out. There is a three-year window of opportunity to file. If returns for the year 200 aren't filed by this April 15, your chance of a refund is gone.
The IRS says it has refunds for nearly 158-thousand people in Texas, totaling more than 203-million dollars.