KMXT 100.1 FM Public Radio in Kodiak, Alaska
Alaskans could lose out on nearly $6 million if they don’t claim their share by April 17th. The IRS announced yesterday that about 5,800 residents who qualified for a refund in 2008 didn’t file their taxes. While there’s no penalty for not filing if you’re owed a refund, the money becomes property of the U.S. Treasury after three years. The median potential refund for Alaskans is $641.
The IRS says some people may not have been required to file because their income was low enough, but that doesn’t mean they’re not due a refund. Tardy filers could still qualify for the Earned Income Tax Credit or if they didn’t receive an economic stimulus payment they may qualify for the Recovery Rebate Credit.
If you’re owed a refund from 2008, the money could be held if you haven’t filed for 2009 or 2010. Also, the money can be used to pay overdue child support or delinquent federal debts, such as student loans.
