IRS has $1 billion of unclaimed refunds

 

The IRS has just announced that more than $1 billion in tax refunds for the year 2008 remain unclaimed by a  million  taxpayers who failed to file a return for that year. The tax law provides a three-year period for claiming a refund when no return is filed. That means these individuals must file a tax return for 2008 no later than Tuesday, April 17, 2012, or their refunds will be lost.