Oakland Township-Lake Orion Taxpayers May Be Missing Out on $1 Billion IRS Owes

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Some 32,000 Michigan taxpayers are owed $34,254 in in refunds because they failed to file 2011 tax returns – and the chance to claim what they’re due is running out, the IRS said.

The deadline to claim the unpaid refunds is April 15 – the same as the filing deadline for 2014 tax returns, according to a news release. There’s no penalty for late-filed returns that qualify for returns, but taxpayers have only a three-year window to claim them.

The money owed Michigan taxpayers – part of $1 billion it’s estimated the government owes – figures out to a median potential refund of $721. About half of the refunds owed to taxpayers nationwide are in that range.

“Time is running out for people who didn’t file a 2011 federal income tax return to claim their refund,” IRS Commissioner John Koskinen said in the news release. “People could be missing out on a substantial refund, especially students or part-time workers. Some people may not have filed because they didn’t make much money, but they may still be entitled to a refund.”

The states in which taxpayers are owed the most are Texas and California, with total potential refunds estimated at $103,164,000 and $92,209,000 respectively, according to the IRS.

Click here to learn more about why the IRS says you should file.

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