The Internal Revenue Service (IRS) estimates it is holding about $1.1 billion in unclaimed federal income tax refunds for approximately 1 million taxpayers who did not file a 2014 federal tax return. The deadline to file a 2014 return to collect any refund due is this year’s tax deadline, Tuesday, April 17, 2018.
“Time is running out for people who haven’t filed tax returns to claim their refunds,” said Acting IRS Commissioner David Kautter. “Students, part-time workers and many others may have overlooked filing for 2014. And there’s no penalty for filing a late return if you’re due a refund.”
If these funds remain unclaimed by the non-filers, then by law the money will become the property of the U.S. Treasury. For more information, click here.