Claim Your 2003 Tax Refund or Lose It

Gripe about paying your taxes? If so, you are one of millions of Americans. The odd thing, of course, is millions of us also fail to get the tax refunds we are do!

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. A hot real estate market led to people buying and moving, but failing to let the IRS know where they went.

4. You got married, changed your name and forgot about taxes collected under your old name.

5. Worked for a short time at a job, but didn’t get a W-2? You might have forgotten the taxes.

So, is there a rush to get out there and claim your tax refund? Well, yes, there is. The magic deadline is tax filing day this year. This represents the three year running period for the statute of limitations. Neither you nor the IRS can look back more than three years to fix a problem, such as this one.

Hate paying taxes? Hate preparing your taxes? Well, you are probably starting to really feel that way as April 17th starts to get closer and closer. You can numb the pain, however, by going back and getting your 2003 refund.

Article Source: http://articlesmore.com

Richard A. Chapo is with BusinessTaxRecovery.com - deal with back taxes today.
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