Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007, the Internal Revenue Service announced today. However, to collect the money, a return for 2007 must be filed with the IRS no later than Monday, April 18, 2011.
In Mississippi, the state Treasury Department has nearly $1 million in unclaimed funds and has identified the 15 people with the most funds to claim.
The IRS estimates that half of these potential 2007 refunds are $640 or more.
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. 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.
For 2007 returns, the window closes on April 18, 2011. The law requires that the return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return qualifying for a refund.
Here is a list of the people for whom the Mississippi Treasury Department is holding $856,314 in unclaimed funds:
*The trust of E.S. Lee, Leakesville, $ 172,338;
*Johnnie W. McDowell, Aberdeen, $100,535;
*Gerald L. Stewart, Biloxi, $73,938.77;
*Marjorie G. Phillips, Eupora $72,711;
*Dee & Thelma Hinton, Laurel, $51,450;
*Pia E. Guin, Biloxi, $48,918.42
*Cyntheia W. Loughran, Columbus, $45,017;
*John M. Comiskey, Gulfport, $43,892.82;
*Juanita A. & Melvin M. Thomas, Hattiesburg, $42,397;
*Elizabeth G. & Leslie C. Moser, Iuka, $42,397;
*Saad & Beebe Crosby, Pascagoula, $41,667;
*John H. Skipper, Columbia, $34,368.40;
*M. M. Bennett, Carrolton, $30,426;
*Debbie G. & William Robertson, Meridian $29,084;
*Terri Parker, Gulfport, $27,169.22
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