IRS Holding Onto $150 Million in Undelivered Tax Refunds
According to the Internal Revenue Service, it has been unable to deliver more than $150 million in tax refunds to American taxpayers this year due to various mailing address errors on their returns. The agency said it is holding a total of $153.3 million in tax returns that it has been unable to deliver to 99,123 taxpayers, with the average refund worth just under $1,550. The undeliverable refunds account for about 0.01% of all refunds.
The IRS encourages taxpayers to opt for direct deposit of their refunds in order to avoid missing out on a refund, but the agency has set up a tool on its website called “Where’s My Refund?,” which taxpayers can use to check the status of their refunds and resolve delivery issues. The IRS does not notify taxpayers by email or telephone when it runs into difficulty delivering their refunds.