Christmas Could Come a Little Early

OK, we’ll cut to the chase. After all, we
know how much we hate to wait for the payoff: The IRS just might
have some money for you. All you have to do to get it is file.

Did you earn income in the last few years, but didn’t file a tax
return because you just didn’t make enough to file? Or maybe you
didn’t have any tax withheld from your pay, but would be eligible
for the refundable Earned Income Tax Credit?

If the answer to either question is “Yes,” the IRS may have a
check waiting for you. In the case of the below-minimum wage
earner, you can claim a refund for the tax that was withheld from
your pay. For those qualifying for the Earned Income Tax Credit,
you just need to file a return to claim it.

Show Me the Money!

In both examples, a return has to be filed with the IRS no later
than three years from the due date of the return. A return for
withheld taxes in the 2009 tax year, for example, has to be filed
no later than 2012. If a return isn’t filed within that three-year
window, whatever refund was available stays in Uncle Sam’s
pocket.

Late returns qualifying for refunds will not be assessed a
penalty.

If you think you might qualify for this type of refund, you can
go to the Forms and Publications page of the IRS website
to find current and prior year tax forms, or you can call the IRS
at 800-829-3676 (800-TAX-FORM). You can click here to get more information on the Earned
Income Tax Credit.

Undeliverable Refunds

What if you were expecting a refund check but never got it?

You’ll need to do a little double-checking to make sure the IRS
is sending your check to the right address. The IRS sends mailed
refunds to the taxpayer’s last known address. If you
move without formally notifying the IRS, the check is returned to
them.

First, you can update your address through the “Where’s My Refund?” feature on the IRS
website. If there’s an undeliverable check to you outstanding in
the last 12 months, you’ll be prompted to put in an updated
address.

You could also file Form 8822, Change of Address, also available on
the IRS site. Or, you can call 800-829-3676 for the form.

If you don’t have Internet access and you think you may be
missing a refund, check your records first, or with your tax
preparer. If your refund documentation appears correct, call the
IRS assistance line, 800-829-1040 to speak with a specialist, check
the status of your refund and confirm your address.