Business & Real Estate

IRS: $82 million in unclaimed 2012 refunds available to California taxpayers

The Internal Revenue Service said Thursday that nearly 95,000 California taxpayers who did not file a 2012 federal income tax return may be eligible for $82.7 million in unclaimed refunds.

To collect the money, a return for 2012 must be filed with the IRS by April 18 this year.

The IRS said the median potential refund for California non-filers from 2012 is $656.

In cases where a tax return was not filed, the law provides most taxpayers with a three-year window to claim a refund. If no tax return is filed within three years, the money becomes property of the U.S. Treasury.

Nationwide, the IRS said more than 1 million taxpayers may be eligible for a combined $950.3 million in refunds.

In addition, many low- to moderate-income workers may be eligible for an earned income tax credit. For 2012, the EITC is worth as much as $5,891.

For more details, go to IRS.gov or call 800-829-3676.

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