Thursday, November 18, 2010

IRS Seeks to Return $164.6 Million in Undelivered Checks to Taxpayers

In their newest press release, the IRS announced that they have $164.6 million in undeliverable tax refund checks. There are over 100,000 taxpayers that are due a refund, and the IRS is encouraging taxpayers to check the "Where's My Refund" section of their site to see if they are owed a check. If only the IRS were so dedicated to finding taxpayers to whom they owe money, as when the taxpayer has a debt, eh?

“We want to make sure taxpayers get the money owed to them,” said IRS Commissioner Doug Shulman. “If you think you are missing a refund, the sooner you update your address information, the quicker you can get your money.”

A taxpayer only needs to update his or her address once for the IRS to send out all checks due. Undelivered refund checks average $1,471 this year, compared to $1,148 last year. Some taxpayers are due more than one check.

The average dollar amount for returned refunds rose by just over 28 percent this year, possibly due to recent changes in tax law which introduced new credits or expanded existing credits, such as the Earned Income Tax Credit.

If a refund check is returned to the IRS as undelivered, taxpayers can generally update their addresses with the “ Where’s My Refund?” tool on IRS.gov. The tool also enables taxpayers to check the status of their refunds. A taxpayer must submit his or her Social Security number, filing status and amount of refund shown on their 2009 return. The tool will provide the status of their refund and, in some cases, instructions on how to resolve delivery problems.

Taxpayers checking on a refund over the phone will receive instructions on how to update their addresses. Taxpayers can access a telephone version of “Where’s My Refund?” by calling 1-800-829-1954.

Continue reading at IRS.gov...