THE INTERNAL REVENUE
SERVICE SAID IT'S SITTING ON $1
BILLION WORTH OF REFUNDS THAT
HAVE NOT BEEN CLAIMED.
THAT MONEY BELONGS TO PEOPLE
ACROSS THE COUNTRY WHO HAVEN'T
FILED THEIR 2014 FEDERAL
RETURNS.
THERE IS NO PENALTY FOR FILING
A LATE RETURN IF YOU HAVE A
REFUND.
ANGELA DAVIS REPORTS THERE IS A
DEADLINE AND TIME IS RUNNING
OUT.
Reporter: IT'S A NECESSARY
BUT OFTEN DREADED PART OF BEING
A WORKING AMERICAN.
FILLING OUT THE FORMS FOR
INCOME TAX RETURNS.
BUT BY FAILING TO FILE A
RETURN, YOU COULD BE MISSING
OUT ON A REFUND.
WE ARE SAYING, LOOK, THESE
ARE REFUNDS, AND THEY ARE GOOD
ESTIMATES, BUT THESE ARE
REFUNDS, THIS IS MONEY OWED TO
TAXPAYERS FOR NOT FILING A TAX
RETURN FOR A PARTICULAR YEAR.
Reporter: THE YEAR IS 2014.
AN IRS SPOKESPERSON SAYS IN
MINNESOTA THERE ARE ABOUT 15,8
800 PEOPLE WHO DIDN'T FILE IN
2014, BUT ARE OWED A REFUND.
THE MEDIAN AMOUNT IS $785
MAKING THE TOTAL NEARLY $16
MILLION.
GENERALLY SPEAKING, IF YOU
DON'T FILE A TAX RETURN, THERE
IS NO PENALTY.
WHAT YOU ARE DOING IS YOU'RE
LETTING THE GOVERNMENT HOLD
YOUR MONEY FOR YOU AND NOT GIVE
IT TO YOU.
Reporter: THE TAX DEADLINE
IS TUESDAY, APRIL 17th OF THIS
YEAR.
WHAT WE DO IS WE SAY, HEY,
WE WOULD LIKE TO HAVE THIS
MONEY FIND ITS HOME.
Reporter: APPREHENSION AND
CONFUSION ARE WHAT KEEP SOME
PEOPLE FROM DEALING WITH THE
IRS.
THERE IS NO QUESTION THAT
TAXES IN GENERAL CAN BE
INTIMIDATING AND THEY ARE OFTEN
VERY COMPLEX.
Reporter: HERE AT PREPARE
AND PROSPER IN ST. PAUL
VOLUNTEERS WHO ARE TRAINED IN
TAX PREPARATION WORK WITH
CLIENTS FOR FREE.
IF PEOPLE ARE NOT SURE, THEY
SHOULD GO TO A FREE TAX SITE
AND FIND OUT IF MAYBE THEY LEFT
MONEY ON THE TABLE.
WE WILL SEE PEOPLE WHO COME TO
US WITH 2014 TAX RETURNS.
Reporter: BY LAW, UNCLAIMED
TAX FUNDS BECOME PROPERTY OF
THE DEPARTMENT OF TREASURY
AFTER THREE YEARS.
NOT EVERYBODY IS REQUIRED TO
FILE AN INCOME TAX RETURN.
YOU CAN HAVE AN INCOME BELOW
THE REQUIRED THRESHOLD.
KEEP IN MIND, IF YOU OWE THE
IRS MONEY, YOU CAN WORK WITH
THEM TO PAY IT IN INSTALLMENTS.
THAT'S ONE OF THE THINGS THEY
WANTED ME TO SHARE WITH PEOPLE
AS I TALKED TO THEM ON THE
PHONE.
SO A LOT OF LIKE FOLKS WHO WORK
PART TIME, DON'T MAKE THAT MUCH
MONEY.
