How to File for Unclaimed Tax Refunds

by contentwriter
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Author: Salie Brones

No doubt, getting a tax refund is music to the ears. However, there is a chance you might miss out on it. According to the Internal Revenue Service (IRS), millions of unclaimed tax refunds stack up yearly.

There is no definite reason why unclaimed tax refunds keep stacking up; it varies so as the process of retrieving your tax refund. To claim your refund, you must be familiar with methods of retrieving unclaimed tax refunds. In that way, you can claim every dollar you deserve without feeling frustrated in the process.

Unclaimed Tax Money: Undelivered or Lost Checks

Generally, unclaimed tax money falls under undelivered or lost checks. However, the primary reasons your refund didn’t get to you might be because you changed your bank details, delivery address, or the check got lost in the mail. Regardless, there is nothing to feel down or frustrated about, you still have the chance to reclaim it, whether you are expecting a direct deposit or a paper check. 

How to Reclaim Your Overdue Tax Refund
  • Within a year Tax Refund Issue

You can request a reissue of the check from the IRS’s unclaimed refund database. For your protection, you need to fill up the necessary details, including your social security number or ITIN, your filing status, and the exact amount of your refund. 

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  • More than a year of Tax Refund Issue

If it is more than a year but under a three-year period, which is the cutoff of the statute of limitations in claiming an unclaimed tax refund, you can choose between two request options. If you filed a Married Filing Jointly status, you can request by filling up the Form 3911, Taxpayer Statement Regarding Refund, or Call the IRS at 1-800-829-1954 if you used another status.

Unclaimed Refunds: Missed Credits, Errors, or Deductions

You can still get your money back if you experienced missed credits, errors, or deductions. As for these circumstances, you can amend your tax return by filling out the 1040X form, then mailing it to IRS. Note that this amendment process can take a while, but you should have everything sorted within 16weeks. 

Unclaimed Tax Returns: When is Filing not Required?

Everyone doesn’t need to file a tax refund each year because there is a minimum income standard needed to file taxes. If you are earning under the income standard, you don’t have to bother. However, you may want to do so if you want to get a refund on withholding, refundable credit, or earned income credit.

Final Thoughts

If you have not been receiving your tax refund for the past one year or more, there are chances that you’ve changed your address, bank account details or your name. Regardless of the cause, there is always a way to get it back. Either by filling the Form 3911 or contacting the IRS. Go through the steps discussed above to know your chances and the best option. 

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