The deadline to file your 2008 return is April 17th.
Unclaimed refunds totaling more than $22.5 million may be waiting for 24,600 Maryland taxpayers who did not file a federal income tax return for 2008, the Internal Revenue Service announced. However, to collect the money, a return for 2008 must be filed with the IRS no later than Tuesday, April 17, 2012. "The IRS estimates that half of these potential 2008 refunds in Maryland are $641 or more," said Peggy Riley, IRS Media Relations Specialist.
"In some cases, people may not have filed their 2008 returns because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury."
By failing to file a return, people stand to lose more than refunds of taxes withheld or paid during 2008. Some people, especially those who did not receive an economic stimulus payment in 2008, may qualify for the Recovery Rebate Credit. In addition, many low-and moderate-income workers may not have claimed the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds. The thresholds for 2008 were:
¨ $38,646 ($41,646 if married filing jointly) for those with two or more qualifying children,
¨ $33,995 ($36,995 if married filing jointly) for people with one qualifying child, and
¨ $12,880 ($15,880 if married filing jointly) for those with no qualifying children.
"If you need a copy of a tax return for that year, in order to file, you can download it from the IRS website, at IRS.gov, or you can give the Forms Line a call at 1-800-829-3676," continued Riley.
