Deadline Nears For Unclaimed Refunds From 2003

Washington (AP) -- More than two billion dollars awaits taxpayers who neglected to file income tax returns for 2003, but they only have until tax day next month to claim it.

The IRS says that that money is due to some 1.75 million people who didn't file returns for the 2003 tax season. The median refund is $611, which means half would get more than that amount and half less.

There are catches. Refund checks will be held if taxpayers have not filed returns for 2004 and 2005. Refunds could also be applied to amounts owed to the IRS, unpaid child support or unpaid student loans.

Under law, unclaimed refunds become property of the US Treasury after three years.

Copyright 2007 by the Associated Press. All rights reserved.



 
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