The Internal Revenue Service is holding onto more than a billion dollars for Americans who are owed the money from 2005, but who have not filed income tax returns for that year. $21.2 million of that money is owed to 26,000 Missourians. And, time to claim the money is running out.
Michael Devine, media relations specialst for Missouri and Kansas with the IRS in St. Louis, says this is money that was withheld by employers and should be refunded to taxpayers.
There is a three year statute of limitations for filing for IRS refunds – meaning the deadline to file for 2005 is April 15th of this year. Any money not claimed by that date goes back to Uncle Sam.