subject: Search Unclaimed Money Bill For Unclaimed Money [print this page] Searching unclaimed funds related to long forgotten money bill is a daunting task, as more than half of the people do not know how to go about it. Most of the people might not even be aware that they can be entitled to receive unclaimed money from the tax they have paid two to three years ago.
In the United States, millions of people pay taxes every year, of which some are subject to get income tax return. However, some people file for an income tax return and some do not as they think that their income is very low, so it is pointless to file. Apart from that, many people do not search for unclaimed money due to certain myths associated with income tax returns.
Regardless what has been rumored about the IRS, claiming for an income tax return is a persons right; it does not matter how late it is. A person should make a list with detailed information about how many years of returns until now. A person can file for unclaimed money as well the tax relief he deserves. Every year million of Americans fail to file their tax return and leaving billion of unclaimed dollars in governments account.
The IRS constantly reminds taxpayers to refund unclaimed money by filling a tax refund form. The best part of filling refund is that is there is not penalty for filling returns against the tax bill. The tax law off America provides to most of a three-year window to claim the fund. If a claimant does not come for the money for more than three years, it will become property of the U.S. Treasury. As per IRS, many people do not file for an income tax return as they are of the belief that they have too little income for filling tax return.
A taxpayer can file for their income tax return by downloading forms of current and previous years. The information and instructions related how to fill the form are given on the forms. Taxpayers need to fill the forms such as W-2, 1098, 1099 or 5498 for 2008, 2009 or 2010. Those who do not have these forms can request for copies of these forms from their employer or bank. If a person fails to find his lost money, he can file form 4506-T or call at 800-908-9946. The IRS offers free consultations and help through its volunteer income tax assistance for low and moderate-income taxpayers, senior citizen, disables, etc.
If a person wants to claim their income tax return, they will have to file the income tax return of all the previous years up to 2008. To claim money from the IRS, the claimant will have to produce documents such as social security number, identity proof and address proof. To become a rightful owner of the unclaimed money, it is important that a tax of all the previous years be paid properly.
