Business & Real Estate

Missing your tax refund? FTB has more than $20 million in unclaimed refunds

The state Franchise Tax Board is sitting on more than $20 million in unclaimed tax refunds, which were returned this year by the U.S. Postal Service as undeliverable.

The amounts range from $1 to as much as $50,000 and belong to nearly 47,500 taxpayers who filed their personal income tax the FTB said Monday. The majority of refunds are for the 2013 tax year, but some go back to 2012.

In most cases, the refunds were undeliverable because taxpayers moved after they filed their tax returns or failed to update their addresses.

Locally, Sacramento County has 1,048 returned refunds totaling about $246,500; El Dorado County has 164 totaling more than $57,000; Placer County has 220 for nearly $78,000 and Yolo County has 161 returned refunds of more than $40,000.

As of November 24, the FTB said it has issued more than 10.7 million refunds worth $10.5 billion for the 2013 tax year. About 60 percent were issued as direct deposit to the taxpayer’s bank account, which FTB says is the best way to prevent a delayed refund.

To update your address, go to MyFTB Account at ftb.ca.gov or call (800) 852-5711. The FTB said refunds will be automatically re-issued when an address is updated online. To check on your refund status, go to: ftb.ca.gov/online/refund.

Call The Bee’s Mark Glover, (916) 321-1184.

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