Miss. residents have $9M in unclaimed 2011 tax refunds

More than 11,000 Mississippians have more than $9 million in federal tax refunds awaiting them for the 2011 tax year.

However, the one catch is that the individuals must file a tax return for the 2011 year by April 15 of this year, says IRS spokesman Mark Green of Atlanta.

The IRS estimates that the median unclaimed refund for tax-year 2011 in Mississippi is $629.

"Time is running out if you want to get your refund," Green said.. "Taxpayers should review their 2011 statements for refundable credits and withh

oldings. We want all taxpayers to get the refund they're due."

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

Some people may not have filed 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.

The IRS reminds taxpayers seeking a 2011 refund that their checks may be held if they have not filed tax returns for 2012 and 2013, according to Green. In addition, the refund will be applied to any amounts still owed to the IRS, or their state tax agency, and may be used to offset unpaid child support or past due federal debts, such as student loans.

Green said that by failing to file a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2011. Many low-and-moderate income workers may not have claimed the Earned Income Tax Credit (EITC). For 2011, the credit is worth as much as $5,751. The EITC helps individuals and families whose incomes are below certain thresholds.

Contact Jimmie E. Gates at (601) 961-7212 or jgates@jackson.gannett.com. Follow @jgatesnews on Twitter.