Got Your IRS Refund Yet?

IRS just can’t figure out why they have so many refund checks returned every year.  In a recent news release, they note that they are sitting on more than 99,000 refund checks, accounting for over $153 million, and just don’t know where to find the related taxpayers, since the checks were returned as “undeliverable” by the Post Office.

If that’s you, still looking for your refund from last year, check out the “Where’s My Refund” link on the IRS website:  www.irs.gov.

IRS notes that undelivered refund checks average $1,547 this year.  And they go on to suggest that a way to avoid this problem is for taxpayers to instruct IRS (when they file their annual return either in paper or electronically) to deposit the money directly into the taxpayer’s bank account.  This sounds good, but we’re not particularly in favor of giving anybody (least of all the IRS) personal bank account information.  You never know — the day may come when you owe taxes and can’t pay – in that instance, you may look up one day and find that the meager balance in that bank account of yours has been tapped by Uncle Sam.  Not good.

Back to the unclaimed refund issue — don’t fall for e-mail or other contacts which you may receive from unknown sources claiming that they know IRS owes you money, and asking for personal or banking information so that you can claim your dough.  IRS does NOT contact taxpayers by e-mail for this or any other reason.