This Could Be in Your Wallet — Tax Refunds from 2010

The IRS has more than $10 million for Connecticut taxpayers who have not filed a 2010 income tax return.

Refunds totaling more than $10 million may be waiting for an estimated 11,700 Connecticut taxpayers who did not file a federal income tax return for 2010, the Internal Revenue Service announced. However, to collect the money, a return for 2010 must be filed with the IRS no later than Tuesday, April 15, 2014.

Here's what the IRS also said in their announcement:

The IRS estimates that half the potential refunds due Connecticut taxpayers for 2010 are more than $620.

Nationally, refunds totaling almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a federal income tax return for 2010. The IRS estimates that half the potential refunds for 2009 are more than $571.

"The window is quickly closing for people who are owed refunds from 2010 who haven't filed a tax return," said IRS Commissioner John Koskinen. "We encourage students, part-time workers and others who haven't filed for 2010 to look into this before time runs out on April 15."

The IRS estimates that half the potential refunds for 2010 are more than $571.

Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.

For 2010 returns, the window closes on April 15, 2014. The law requires that the return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return qualifying for a refund.

The IRS reminds taxpayers seeking a 2010 refund that their checks may be held if they have not filed tax returns for 2011 and 2012. In addition, the refund will be applied to any amounts still owed to the IRS or their state tax agency, and may be used to offset unpaid child support or past due federal debts such as student loans.

By failing to file a return, people stand to lose more than just their refund of taxes withheld or paid during 2010. In addition, many low-and-moderate income workers may not have claimed the Earned Income Tax Credit (EITC). For 2010, the credit is worth as much as $5,666. The EITC helps individuals and families whose incomes are below certain thresholds. The thresholds for 2010 were:

  • $43,352 ($48,362 if married filing jointly) for those with three or more qualifying children,
  • $40,363 ($45,373 if married filing jointly) for people with two qualifying children,
  • $35,535 ($40,545 if married filing jointly) for those with one qualifying child, and
  • $13,460 ($18,470 if married filing jointly) for people without qualifying children.

Current and prior year tax forms and instructions are available on the Forms and Publications page of IRS.gov or by calling toll-free 800-TAX-FORM (800-829-3676). Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for 2010, 2011 or 2012 should request copies from their employer, bank or other payer.

If these efforts are unsuccessful, taxpayers can get a free transcript showing information from these year-end documents by going to IRS.gov. Taxpayers can also file Form 4506-T to request a transcript of their tax return.

Leonard Carusi March 21, 2014 at 06:49 AM
There is a flip side to all of this. It is true that you cannot claim a refund after April 15, 2014, but the IRS can still come after you for not having filed a tax return. There is no statute of limitations regarding an unfiled return. If you owe taxes for 2010, the IRS can still come after you. www.leonardcarusi.com
Paul Bahre March 21, 2014 at 09:14 AM
What I found out doing my taxes this year. If you have a child who turned 17 last year anytime during the year, you don't get a child care credit for that child any more. As I have and our legislators felt that to pay for Obamacare they took that from us. Like it's cheaper to have a 17 year old than any other age? What is so hideous about this by the time parents forced legislators to fix it, you kid is already over 18. Just another reason why people hate all things connected to government. Let me list off the things people in the US Hate: Cops, Judges, Lawyers and politicians.
Leonard Carusi March 21, 2014 at 09:50 AM
Mr. Bahre - The deduction for the Child Care credit actually ends when the child attains age 13. So I believe you are talking about the child tax credit. Yes, you are correct; you are no longer eligible for the credit when the child attains age 17. I understand your frustration. Our tax system is very complex and it is often difficult to understand the logic behind some of the rules. As a professional tax preparer, all I can do is explain the rules and adhere to them, and encourage clients to lobby for change. www.leonardcarusi.com
Paul Bahre March 21, 2014 at 10:08 AM
How do you go about lobbying for change? You can call your congressman's office but they will give you pat answers and in the end the idiot who is my congressman has never met a tax he didn't like. Tax code is power and the idiots in Washington are all drunk with power. If you were to go to a straight flat tax that would never happen because those power drunk idiots in Washington would never let that happen. The politicians have stuffed the ballot box with entitlements and that is why we can't get decent elected leaders. We now have too many people on the dole. Johnson’s and Obama’s “wars on poverty” are frauds to keep people poor and dependent on the federal government. By keeping blacks dependent on them, the Democrats “own” blacks, and keep them doing their bidding, their work. This, my friends, is the modern face of slavery, slavery being something the Democrat party has always owned and has no intention of giving up.
Brian Duffy March 21, 2014 at 10:46 PM
Paul, the child care credit has always had the 17 year old cutoff since Clinton put the credit in during the 90s. It has nothing to do with Obamacare. It started around $400 i believe, and Bush and Obama both continued it and gradually raised it to $1000. You have had the credit available to you for your kid's entire life. In fact, it was scheduled to expire in 2010 and Obama and Congress made it permanent (for now). So, although your kid has "aged out" as of 2013, you can at least thank Obama for saving you a couple of grand for 2011 and 2012. (Though I doubt you will!)


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