IRS has refunds totaling $1 billion for people who have not filed a 2011 Federal Income Tax Return

WASHINGTON DC – Federal income tax refunds totaling $1 billion may be waiting for an estimated one million taxpayers who did not file a federal income tax return for 2011, the Internal Revenue Service announced on March 11.

To collect the money, these taxpayers must file a 2011 tax return with the IRS no later than Wednesday, April 15.

"Time is running out for people who didn’t file a 2011 federal income tax return to claim their refund," said IRS Commissioner John Koskinen. "People could be missing out on a substantial refund, especially students or part-time workers. Some people may not have filed because they didn’t make much money, but they may still be entitled to a refund.”

The IRS estimates half of the potential refunds for 2011 are more than $698.

In cases where a tax return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. For 2011 tax returns, the window closes on April 15, 2015. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.

Current and prior year tax forms and instructions are available at IRS.gov on the Forms and Publications page, or call toll-free (800) 829-3676.