How to Get Unclaimed Money the IRS is Holding

Filing an address change with the IRS could unlock a refund.

The Internal Revenue Service, IRS, is holding more than $1 billion in unclaimed refunds due to taxpayer failure to notify the IRS or the United States Postal Service of address changes. Tax refunds returned as undeliverable are considered unclaimed funds. The law gives you a three-year window to claim unclaimed refunds. The procedure is make a claim is relatively straightforward.

Difficulty:

Moderately Easy

Instructions

1. Search the IRS database for your name, state and tax year to see if the IRS is holding unclaimed money (see Resources).

2. Complete a Form 1040 for the year in question, if you indeed find the IRS is holding any of your money. To obtain the proper forms, call 800-829-1040 or visit IRS.gov (see Resources).

3. Click "Forms and Publications" link on the left side of IRS.gov.

4. Click on "Previous Years" on the next screen, several lines beneath the heading "Download forms and publications by."

5. Type the form number you want in the "Find" box and hit "Enter."

6. Scroll down the long list of tax forms on the next screen. The far right column heading "Revision Date" will list available form for given years. Scroll until you find the 1040 (U.S. Individual Income Tax Return). Click "Form" to download and fill out the form to claim your missing money.

Tips & Warnings

• The IRS is not the only agency holding billions in unclaimed money. Each state's treasury department is also responsible for unclaimed property. Check to find out if your state is also holding any of your unclaimed money (see Resources).

References

• IRS: IRS Encourages Taxpayers to Take Advantage of Overlooked Tax Benefits