The IRS Owes Californians 70 million dollars.

How is it possible that any tax payer would purposely leave any money with the Internal Revenue Service.  I have never had the privilege of the IRS owing me money.    I am always writing a check.   The IRS is not a saving account contrary to how many people manage their tax liabilities. But that is another blog for another day.   The IRS owes nearly 918,000 taxpayers who did not file their federal income tax returns in 2010.  The refunds total  nearly $760 million dollars which still can be collected by taxpayers until April 15, 2014.  Time is running out.

Students and part-time workers are typically the ones who fail to file their income tax returns because they had too little income required to file a tax.   Workers who had their taxes withheld from their wages, can still be claimed without any penalties.  They just need to file their federal income tax returns. The law states that taxpayers have a three-year window of opportunity to claim a refund.  When the refund is not claimed, the money becomes the property of the U.S. Treasury.   It's one thing for the IRS to take what we owe but it's another thing to give them money you do not owe.  That is ridiculous.

I am amazed at the amount of money owed by the IRS to taxpayers when broken down by states. California leads the nation owing 86,500 taxpayers nearly $70 million dollars in total. How can this be possible in the second most expensive state to live in the country? Don’t these people need their money? I am sure that a refund of any amount  would help with the growing costs of living.

What does it say about California when you look at a state like Vermont who only have 1,600 people that the IRS owes money to? This totals to an amount of $1 million.  Hardly anything compared to California.   Nearly 10% of all the money owed by the IRS is to Californians.  Now I know that the population is not the same between the two states therefore the numbers are unexpectedly to be higher in California. But I am uncertain that this is reason for the difference since there is also a significant difference between California and  many other states including Vermont.   Californian go get your money.      

http://www.irs.gov/uac/Newsroom/IRS-Has-$760-Million-for-People-Who-Have-Not-Filed-a-2010-Income-Tax-Return