Liberty Tax: Millions in unclaimed refunds await collection

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The IRS has more than $30 million in unclaimed refunds for North Carolina taxpayers who did not file a 2014 federal income tax return.

Taxpayers who do not file by this year’s April deadline will forfeit their money, according to Liberty Tax Service, which reminds taxpayers that there is no penalty for filing a late return if they are owed a refund.

“There’s no reason for taxpayers to overpay the IRS,” said LaShawnon Battle of the Liberty Tax office in Wilson. “We can help taxpayers file past years’ returns and get what is rightfully theirs.”

The IRS estimates that about 1 million taxpayers across the U.S. are eligible for more than $1 billion in refunds. Half of the potential refunds are for more than $847. Unlike taxpayers who owe the IRS, those who qualify for refunds do not pay a penalty for filing a late return.

Taxpayers need to act quickly, though, the deadline to file a 2014 tax return is this year’s tax deadline of April 17. After that, any refund will be turned over to the U.S. Treasury. Taxpayers who owe the IRS or the state, may find their refund used to pay off those debts. The refund also could be used to offset unpaid child support or student loans.

Taxpayers who did not file taxes for 2015 or 2016 will have their refunds held until those past years’ returns are filed. Liberty Tax can assist taxpayers with filing all past years’ returns and 2017 tax returns.

Call the Liberty Tax office in Wilson at 252-363-6181 or call 866-871-1040 or visit www.libertytax.com to find a local office. Liberty Tax does take appointments, but they are not necessary.