IRS Owes You Over $1 Billion for 2004

Deadline is looming

By Kaye A. Thomas
Posted March 26, 2008

Many people fail to file even though they have refunds coming.

It's hard to believe, but the IRS owes you more than $1 billion for 2004. You collectively, that is: the American taxpayer. Specifically, taxpayers who failed to file returns for 2004 that would have qualified for income tax refunds.

Procrastination? Distaste for dealing with taxes? Whatever the reason, there are over a million taxpayers who could have received a refund check for 2004 but failed to file.

Some of those people may be thinking the refund is too small to be worth the effort of filing. Yet according to an IRS estimate, half of this group of non-filers are giving up refunds of more than $552.

You can still file for 2004, but time is running out. Generally the last day to claim a refund is three years after the original due date of the return. That means you have to act by April 15, 2008 to claim a refund on your 2004 income tax return.

Forms, instructions and IRS publications for earlier years, including 2004, are available on the IRS website.

details: Prior Year Forms, Instructions and Publications