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IRS Says It Has More Than $1 Billion In Unclaimed Tax Refunds

Source: forbes.com - Mar 2, 2017

What would you do if you knew someone else had your money? Claim it, of course. The Internal Revenue Service (IRS) is urging taxpayers to do exactly that: More than $1 billion in outstanding tax refunds remain unclaimed from 2013. That represents an estimated one million taxpayers who might have qualified for a refund but who did not file a federal income tax return for 2012.

How much is a billion dollars? I know we throw around these “illions” anymore (millions, billions, trillions) like they’re nothing but it’s a lot of money. How much? If the IRS gave away a dollar an hour, it would take more than 114,155 years to get rid of $1 billion.

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Category: General Business