The IRS owes more than $20 million to nearly 20,000 Louisiana taxpayers who failed to file federal tax returns for the 2007 tax year. The average refund amount due Louisiana residents is more than $600.
The money owed to Louisiana taxpayers is part of more than $1 billion owed to taxpayers nationwide.
“Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments,” the IRS announced in a press release. “In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.”
The IRS says it owes $20,327,000 to 19,500 Louisiana taxpayers who failed to file 2007 federal returns. The three-year window means these taxpayers have until April 18, 2011, to file those returns and claim their refunds.