If you haven’t filed your 2005 tax return yet, you may be missing out on a refund. According to an article in the Dallas Morning News, there is $105.2 million owed to 103,000 Texans who failed to file a tax return in 2005. The average amount owed to Texans is more than $600 per person, of course some Texan’s tax refunds may be larger or smaller. Texans who want to claim their tax refunds can file by April 15, 2009 and still get the money.
The law gives taxpayers up to three years to claim their tax return, after that time period the money remains with the IRS. For those who are unemployed and haven’t filed a tax return for 2005, take the time out and check to see if you are owed a refund. That windfall can make a huge difference for an unemployed person with no income. There is not penalty for filing a tax return late if no money is owed. Visit www.irs.gov for more information.
“So, that’s not our objective, Jamie, I guess is what I would say to you. But we’re going to need the capital markets come back, we and the whole industry.”