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Get a nice warm feeling when your tax refund check comes in? Well, you might want to check if you got it for your 2003 taxes. Over 2 billion went unclaimed and are about to expire. Could you use some extra money to pay taxes and bills this year? You might want to look through your records to your 2003 tax return. If you were due a tax refund, did you actually get it? You might be surprised to learn that many people don’t. In fact, over 1.8 million people failed to claim billions of dollars in refunds for 2003. How does $1,200 sound? What could you do with it this month? Heck, you could even fill up your car at the gas station a couple of times. Okay, maybe twice given the outrageous gas price increases, but the money would clearly help. Well, $1,200 is the average tax refund due to people that failed to claim theirs in 2003! 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. Your employer withdrew taxes from your paycheck, but you didn’t file. 2. If you left a salaried job and opened your own business, you can easily overpay. 3. You moved and didn’t tell the IRS. 4. You got married, changed your name and forgot about taxes collected under your old name. 5. You kept bad records of tax payments and believe you paid less then you really did. Can you imagine just throwing 1,000 out the window of your car? If you haven’t claimed your 2003 refund, you are about to do just that. After April 17th of 2007, it expires. That’s right, you lose it and the IRS gets to spend it as it wishes! 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.
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Richard A. Chapo is with BusinessTaxRecovery.com - providing information on taxes. You can get a unique content version of this article.
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