A blog post

Does the IRS Owe YOU?

Posted on the 04 August, 2011 at 8:32 pm Written by in General

The IRS has two forms of “missing money” and some of it could be yours. To find out if the IRS owes you money, ask yourself these questions:

• Did you earn income in the past few years, but not file a tax return because your wages were below the filing requirement?

• Were you expecting a return, but never received one?

Some people earn income and may have taxes withheld, but they are not required to file a tax return because their income is too low. In this case, you can claim a refund for the tax that was withheld from your pay. Others may have earned income, but no taxes were withheld. If this is the case, then you are eligible for the refundable Earned Income Tax Credit. In order to claim this tax credit, a return must be filed.

If you were expecting a refund check, but never received one, the solution can be as simple as updating your address with the IRS and/or the U.S. Postal Service. Refund checks are mailed to your last known address. If you move without notifying the IRS or U.S. Postal Service, the checks are returned to the IRS.
To update your address with the IRS, you can go to www.IRS.gov, and click the “Where’s My Refund?” tab. If you have an outstanding check within the last 12 months, you will be prompted for an updated address.

You can also ensure that the IRS has the correct address by filing Form 8822 (Change of Address). This form is available on www.irs.gov or can be ordered by calling 800-TAX-FORM (829-3676).

Any other questions can be answered by calling the IRS assistance line at 800-829-1040.