There are $1B in unclaimed refunds

Advisors


If you’re still procrastinating on filing your 2014 tax return, time is running out for you to collect your refund.

About one million taxpayers have yet to file a return for that year. Unpaid refunds from those returns total more than $1 billion, according to the Internal Revenue Service. The median refund is $847.

The deadline for filing late returns for 2014 is April 17. If you miss that deadline, any money that would have been refunded to you goes to the U.S. Treasury.

You may also be eligible for the earned income tax credit if you had low or moderate income. That credit was valued at up to $6,143 in 2014, according to the IRS.



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