IRS owes taxpayers money from tax refunds
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Print The Internal Revenue Service (IRS) is looking for taxpayers who are due a refund check that was returned to the IRS by the U.S. Postal Service due to mailing address errors. Undeliverable refund checks averaged $1,148 this year, compared to $990 last year. Some taxpayers are due more than one check.
All a taxpayer has to do is update his or her mailing address once with the IRS. After which, the IRS will then send out all checks due.
Undeliverable tax refunds up this year
The average undeliverable refunds rose this year. And according to the IRS, several changes in tax law likely played a role in boosting refunds, including the First Time Home Buyers Tax Credit and the Recovery Rebate Credit, among others.
The IRS owes over 100,000 taxpayers more than $123 million is undelivered tax refunds.
How to update taxpayer address
Taxpayers can generally update their addresses with the "Where's My Refund" tool on IRS.gov or by calling 1-800-829-1954.
The IRS encourages taxpayers to choose direct deposit when they file their returns because it puts an end to lost, stolen or undeliverable checks. The IRS also encourages taxpayers to file their tax returns electronically because e-file eliminates the risk of lost paper returns.
According to the IRS, e-file coupled with direct deposit is a taxpayer's best option as it’s easy, fast and safe.
“We are eager to get this money into the hands of taxpayers, so don’t delay if you think you are missing a refund,” said IRS Commissioner Doug Shulman. “The sooner you update your address information, the quicker you can get your refund.”
