About $1.1 billion in unclaimed federal income tax refunds are waiting for an estimated 1 million Americans who didn't file a 2014 federal income tax return, according to a recent report released by the Internal Revue Service. The deadline to collect those funds is no later than Tuesday, April 17, which is this year's tax deadline.
"We're trying to connect a million people with their share of $1.1 billion in unclaimed refunds for 2014," David Kautter, the acting IRS commissioner, says in the report. But, he warns, "time is running out for people who haven't filed tax returns to claim their refunds. Students, part-time workers and many others may have overlooked filing for 2014."
In cases where tax return was not filed, the IRS notes, most people are allowed a three-year window to claim their refund. There are, however, a few caveats. If you don't file within three years, the money becomes property of the U.S. Treasury.