Claim Your 2003 Tax Refund or Lose It
by Richard Chappoe
The only good thing about doing taxes is getting a nice, big tax refund. Unfortunately, nearly 2 million taxpayers failed to claim theirs in 2003.
Feel like taxes are too high? Of course you do. It is a god given write of Americans to complain about taxes. That being said, you lose the right to complain if you don't follow up on money the IRS owes you. For the 2003 tax year, 1.8 million Americans have failed to do so to the tune of a whopping 2.2 billion dollars.
Imagine balancing your bank account and finding you had TWO BILLION dollars more than you should. Well, this is what the IRS found for the 2003 tax year. Yes, taxpayers have left a couple billion dollars on the table. This averages out to more than a grand per person that failed to claim the refunds. There are roughly 1.8 million of you.
I get a headache thinking of the things I could do with one billion dollars, much less two. I imagine the IRS feels the same way. Think of all the audits they could fund, but why the surplus?
1. Some taxpayers don't file because they don't think they made enough money.
2. You worked multiple jobs and forgot to include some of the taxes collected by an employer.
3. Tax refunds are not forwarded by the postal office if you moved.
4. You got married, changed your name and forgot about taxes collected under your old name.
5. You accidentally made to quarterly payments instead of one.
Expiring. It is a terrible word, but one you need to focus on. You have only 3 years to claim any refunds you are due. Since you filed 2003 taxes on April 15, 2004, the right to get the refund is about to expire. The critical date is April 17th this year, so act fast or lose the money!
2003 may seem like a long time ago, but a trip to the past can be profitable. If you could use an extra grand, and who can't, you may be able to get it by checking your records for the year. Don't assume you received a refund. Make sure. You might just be surprised.
Richard A. Chapo is with BusinessTaxRecovery.com - find out how to get tax debt relief. Don't reprint this exact article. Instead, reprint a free unique content version of this same article.
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