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IRS has nearly $1 billion in unclaimed tax refunds about to expire; money owed to 1M taxpayers

Article by: STEPHEN OHLEMACHER , Associated Press
Updated: March 14, 2013 - 2:11 PM

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rhankinsMar. 14, 1312:11 PM

How does the IRS know someone is due a refund without a tax return?

townewMar. 14, 1312:30 PM

Withholding would account for some of it, I would assume. Perhaps a large portion is for small filers who pay withholding, but didn't make enough to pay taxes, so it should have all been refunded.

rnvhillMar. 14, 1312:35 PM

rhankins- pretty simple really. They have all the data that was sent to you. With just W-2 and 1099's they can tell if a refund is due or not. When you add in credits and deductions then the refund amounts are increased - whether that is part of the quoted amount or not is unclear though.