What happens to money that people don’t claim on their tax refunds? Can I have some?
Tax revenue left unclaimed by taxpayers who fail to file tax returns reverts to the U.S. Treasury, for use by the federal government. Anyone still owed money for the 2006 tax year, but who did not file a tax return, has until Thursday to do so, said Michael Devine, IRS spokesman for Kansas. After that, the money reverts to the treasury. The IRS estimates that refunds await for nearly 13,400 Kansans who did not file 2006 returns, for a total of $11.7 million. A typical refund would be about $586, Devine said. For more information, visit IRS.gov.