TALLAHASSEE, Fla. (WTXL) - About 69,800 Floridians and 34,800 Georgians who did not file 2014 income tax refunds may be due money, the IRS says.
The Internal Revenue Service estimates that Floridians are owed a median potential refund of $865 and the total potential refunds in the Sunshine State are $74,040,300.
In Georgia, the figures are $772 and $35,006,000.
Nationwide, the IRS says, unclaimed federal income tax refunds total about $1.1 billion owed to an estimated 1 million tax payers who did not file a 2014 federal income tax return.
To collect the money, taxpayers must file their 2014 tax returns with the IRS no later than this year's tax deadline, Tuesday, April 17.
"Time is running out for people who haven’t filed tax returns to claim their refunds," said acting IRS Commissioner David Kautter. "Students, part-time workers and many others may have overlooked filing for 2014. And there’s no penalty for filing a late return if you’re due a refund."
The IRS estimates the midpoint for the potential refunds for 2014 to be $847; half of the refunds are more than $847 and half are less.
If federal income tax return were not filed, the law provides most taxpayers with a three-year window of opportunity to claim their tax refunds. If they do not file tax returns within three years, the money becomes the property of the U.S. Treasury.
The IRS reminds taxpayers seeking a 2014 tax refund that their checks may be held if they have not filed tax returns for 2015 and 2016.
In addition, the refund will be applied to any amounts still owed to the IRS or a state tax agency and may be used to offset unpaid child support or past due federal debts, such as student loans.
