Not Filing Tax Returns Costs Billions in Lost Refunds
Nearly 2 million students, retirees and other taxpayers stand to lose $2.5 billion in refunds if they don't act quickly to claim the money.
The Internal Revenue Service said Monday that anyone who should have gotten a refund for taxes paid in 2000 but didn't file a return must file and claim the money by April 15.
Half of those taxpayers could claim refunds of $529 or more, the IRS estimated. That calculation does not include the earned income tax, which could make the refund even larger for some low-wage workers.
Don't wait until it's too late!