IRS Says $82 Million in Unclaimed 2012 Refunds Available to Taxpayers in California

LOS ANGELES (CNS) - The Internal Revenue Service said that nearly 95,000 taxpayers in though out the state who did not file a 2012 federal income tax return may be eligible for $82.7 million in unclaimed refunds.

To collect the money, a return for 2012 must be filed with the IRS by April 18 this year.

The IRS said the median potential refund for California non-filers from 2012 is $656.

In cases where a tax return was not filed, the law provides most taxpayers with a three-year window to claim a refund.

If no tax return is filed within three years, the money becomes property of the U.S. Treasury.

"A surprising number of people across the country overlook claiming tax refunds each year," said IRS Commissioner John Koskinen. "But the clock is ticking for taxpayers who didn't file a 2012 federal income tax return."

"We especially encourage students and others who didn't earn much money to look into this situation because they may still be entitled to a refund," he said. "Don't forget, there's no penalty for filing a late return if you're due a refund."

--City News Service, photo via Shutterstock