- Days left
The IRS has $1.2 billion that belongs to taxpayers for 2004 tax returns. They estimate that about 1.3 million people did not file returns for 2004, and their refunds are just sitting there collecting dust. They say the average taxpayer is due a refund of $552, but they won't send it to you unless you ask for it.

If you're going to file for your refund, you better get moving! You only have until April 15 to do it. If you file a 2004 tax return after that date, you won't get your money. The IRS only has to give you a refund for three years after the original due date of the tax return. After that, you're out of luck.

And don't worry, if you were due a refund for 2004, you won't even get a penalty for filing that return late. So get on the move and get your 2004 tax return in so you don't lose the money that belongs to you.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

Increase your money and finance knowledge from home

How much house can I afford

Home buying 101, evaluating one of your most important financial decisions.

View Course »

Understanding Credit Scores

Credit scores matter -- learn how to improve your score.

View Course »

TurboTax Articles

Depreciation of Business Assets

In an effort to stimulate the economy by encouraging businesses to buy new assets, Congress approved special depreciation and expensing rules for property acquired in 2014. However, beginning in 2015, we are back to the old depreciation rules.

Tax Deduction Wisdom - Should You Itemize?

Learn whether itemizing your deductions makes sense, or if you should simply take the no-questions-asked standard deduction. The standard deduction is always easier, but for one out of every four taxpayers, itemizing pays off with a lower tax bill. Browse this quick tax deduction overview to avoid paying more taxes than you actually owe.

Tax Breaks and Home Ownership

Home ownership brings with it not only many trips to home improvement stores, but also a slew of tax breaks. It's up to you to take full advantage of the write-offs available to you. Here's what you can and can't deduct.

When to Use Tax Form 1099-C for Cancellation of Debt

In most situations, if you receive a Form 1099-C from a lender after negotiating a debt cancellation with them, you'll have to report the amount on that form to the Internal Revenue Service as taxable income. Certain exceptions do apply.

What is IRS Form 8917?

If you, your spouse or dependents attended post-secondary school, you may be able to deduct a portion of the tuition and fees by reporting it on IRS Form 8717.

Add a Comment

*0 / 3000 Character Maximum