$67 Million in IRS Refunds In Search of Taxpayers

IRS Commissioner Charles Rossotti is looking to become Santa Claus, as the IRS initiates its search for over 90,000 taxpayers who are due over $67 million in refunds this year.

The search is an annual exercise by the IRS, prompted primarily by people changing addresses without informing the proper authorities.

"This is one case where we're more than happy to pass the buck," says IRS Commissioner Rossotti.

Over 15,000 undelivered refunds are due to residents of California, followed by 8,000+ each for New York, Florida and Texas. The average refund in Florida, for instance, is just over $1000.

Solution: This year over 30 million taxpayers have opted for direct deposit of their refunds. You may want to take this opportunity to encourage your clients to do the same . . .

If you or your clients feel that a refund is due to you, please contact the IRS toll-free at 800-829-1040.


Already a member? log in here.

Editor's Choice

Upcoming CPE Webinars

Nov 24This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Dec 3The materials discuss the concepts and principles in the AICPA’s new special purpose framework.
Dec 9A key component to improving your firm’s workflow efficiency while enhancing your profitability at the same time is how you leverage emerging technologies.
Dec 9Kristen Rampe will cover how to diffuse the tension in challenging situations in this one-hour webinar.