The Internal Revenue Service says American taxpayers are entitled to $1.1 billion in unclaimed tax refunds from the 2014 tax year. In Texas alone, the IRS estimates 108,000 people are owed nearly $122 million.
“If you have a refund coming back to you it is necessary to file a tax return to get that refund,” says IRS spokesman Clay Sanford. “There's a three-year statute of limitations on that, so if you don't file the money goes back to the Treasury.”
The deadline to file for 2014 is this year's Tax Day on April 17.
Overall, an estimated one million taxpayers could potentially have a claim to some of the money, with a median unclaimed refund amount of nearly $850.
“For instance, you're a high school or college student and you've got your first job and you're not used to filing a return or maybe you had two or three summer jobs,” says Sanford. “Don't forget to file that return because you could have a refund coming back.”