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Monday, October 4, 2010

Detroit News story on unclaimed cash

Today the Detroit News did a story on the State of Michigan's web of unclaimed cash. According to the author Brian O'Connor:

But you could be leaving plenty of other money lying around, too. According to the IRS, nearly 1.4 million people missed out on refunds totaling more than $1.3 billion from the 2006 tax year. That included 42,800 Michiganians who left nearly $41 million in the U.S. Treasury, an average of $618 apiece. The window on all that money closed on April 15, meaning they're out of luck.

Besides unclaimed refunds, the IRS also got 107,831 refund checks totaling $123.5 million returned last year from taxpayers who filed their 2008 returns but, in most cases, moved or provided illegible mailing addresses. Or maybe they didn't need the money but just looooovefilling out tax forms.

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