The IRS announced on March 10, 2016 that nearly $1 billion could be waiting for about one million taxpayers who didn’t file a federal income tax return in 2012. If you haven’t filed your 2012 federal income tax returns, you need to do it ASAP. If you don’t file by April 18th 2016, then you will lose any money that is owed to you.
Here’s the potential refund for individuals in Maine, Massachusetts, and New Hampshire who did not file a 2012 return:
- Estimated Number of Individuals: 4,100
- Median Potential Refund: $651
- Total Potential Refunds*: $3,432,000
- Estimated Number of Individuals: 20,600
- Median Potential Refund: $767
- Total Potential Refunds*: $19,714,000
- Estimated Number of Individuals: 4,400
- Median Potential Refund: $804
- Total Potential Refunds*: $4,284,000
* Excluding the Earned Income Tax Credit and other credits.
We advise students who didn’t file their taxes in 2012 to consider filing because their might be a refund that is owed to them. Students can still file their 2012 tax returns, even if they were claimed by their parent.
There isn’t a penalty for filing a late return if you’re due a refund, but hurry, the deadline is April 18th! Call us at (855) 479-2400 and we’ll help you get these tax returns filed. We are certified public accountant, enrolled agents, and even certified tax resolution specialists – so you can ensure that you’re in trusted hands.