Fri February 24, 2012
MD, DE: $26 Million In Tax Refunds Unclaimed
The Internal Revenue Service reports that more than $26 million in tax refunds is owed to Maryland and Delaware residents, who did not file a 2008 federal income tax return.
The IRS says more than 4,000 Delaware residents are owed refunds totaling $3.8 million, and the IRS estimates that it owes $22.5 million to more than 24,000 Maryland taxpayers.
Residents may not have filed, because their income fell below the income filing requirements or because they made quarterly estimated tax payments.
The IRS is giving those who did not file in 2008 a second chance to claim the funds by filing a 2008 federal tax return by April 17, without paying penalty fees to redeem the qualifying refund.
The IRS estimates that half of the potential Maryland refunds are at least $641.
Whatever money is leftover, becomes the property of the U.S. Treasury.