Several thousand Iowans who didn’t file federal tax returns for the year 2008 are now owed a bundle by the Internal Revenue Service. The I.R.S. says more than 10,600 Iowans are due a total of almost $9-million.
I.R.S. spokesman Christopher Miller says the agency would like to return the cash. Miller says, “This is money that you could get back in the form of the refund or you could be due other credits and deductions you’re unaware of.” The I.R.S. estimates half of these potential refunds are worth over 600-dollars to individual Iowans.
Miller says in some cases, those who didn’t file their 2008 returns didn’t make enough to require filing. However, if those people worked, they paid taxes as the money was taken out of their paychecks. Miller says, “They had too little income to require filing a return under the rules even though they had taxes withheld.”
Miller says those who haven’t filed have until April 17th to do so. There is a three-year window that closes on that day. If the money is not refunded to taxpayers, it becomes property of Uncle Sam.
“That money will go back into the U.S. Treasury if we don’t have people file,” he says. The I.R.S. says if a taxpayer is due a refund, that check may be held if they haven’t filed tax returns for 2009 and 2010. The refund will be applied to any amounts still owed to the I.R.S. or to pay past-due child support or other federal debts, like student loans.
