ATLANTA — Tax refunds totaling $1 billion dollars awaits taxpayers across the nation, and Georgia residents are owed $31 million in unclaimed refunds.
According to the IRS, 36,200 Georgia residents have unclaimed tax refunds for the 2011 tax year. The median amount owed to Georgia taxpayers who did not file for 2011 is $628.
IRS spokesman Mark Green says time is running out for anyone looking to claim a 2011 tax refund.
"If no return is filed to claim the refund within three years, the money becomes property of the U.S. Treasury," Green said.
Georgia taxpayers who want to claim their 2011 funds must file by April 15, 2015.
The IRS may withhold payment of 2011 tax refunds if the taxpayer never filed tax returns for 2012 and 2013. The tax refund may also be applied to taxes owed to the IRS or the state tax agency, and may be used to pay past-due child support or past-due federal debts like student loans.
Current and prior-year tax forms and instructions are available on IRS.gov
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