YOU MAY HAVE PENDING OLD TAX REFUNDS

Does the IRS have an income tax refund you never requested? The IRS estimates that it has unclaimed tax refunds for 2017 of $ 1.3 billion for approximately 1.3 million taxpayers. Unclaimed tax refunds become the property of the U.S. Department of the Treasury.

If you fulfilled the obligation to present your tax return this year, your balance in favor of the Tax Administration Service (SAT) system awaits you. The tax refund is, in principle, a right of all taxpayers. This tax refund allows taxpayers to recover balances in their favor, or some cases, money that they have overpaid due to an error in calculating taxes.

As explained in article 22 of the Federal Tax Code (CFF), you can only request a refund of the balance after having submitted the statement for the year. Any type of taxpayer – individual or legal entity – can obtain a favorable balance after having submitted their annual return. To verify the origin of the refund of the balance, the authorities may require some additional data or documents from the taxpayer, within a period of no more than 20 days after the presentation of the refund request.

We’ll show you how to determine if the IRS has an unclaimed tax refund for you. You can find more information here.

When should I ask the IRS for a prior tax refund?
The IRS is required to withhold unclaimed income tax refunds for three years. After three years, the law says that the money will become the property of the United States Department of the Treasury and you will no longer be able to obtain it.

How can I find out if the IRS has a refund of unclaimed income for me?
The only way to know if the IRS is withholding a refund is to file a return for the year and they will tell you. They periodically calculate the dollar amount of undeclared tax returns but have no way of determining whether an individual taxpayer is owed a refund until they file a tax return. Refund status will also be reported for those who have already filed their taxes.

How do I request my tax refund?
To request a refund, you will also need to submit your tax form online or by mail. If you submit, the tax return must be postmarked by May 17.

Can my unclaimed refund be used to cover the debt?
If you believe you are owed a refund but have not received a refund after your registration, your refund may have been offset in whole or in part or used to refund past due federal taxes, state income taxes, and state unemployment benefits, such as debt, child benefit, spousal benefit, or other federal debt such as student loans.