IRS Holding Millions in Unclaimed Refunds; Jackson Hewitt Urges Consumers Who Have Not Received 2008 Tax Return Refund To Act Now
PARSIPPANY, N.J., Dec. 3 // PRNewswire-FirstCall // --Thousands of Americans are owed money, which could make for a great "holiday bonus" - but this one won't be coming from their employers.
Information released by the Internal Revenue Service confirms that the agency is currently holding $123.5 million in unclaimed money. The money is from 107,831 income tax refund checks that were returned to the IRS this year due to incorrect mailing addresses.*
For a "greener" holiday season, tax preparation industry leader, Jackson Hewitt Tax Service®, urges any taxpayers who did not receive their expected refund to contact the IRS immediately with proof of their current address.
"A missing refund check can equal a significant amount," said Mark Steber, chief tax officer, Jackson Hewitt. "This year's average tax refund is $1,148, up from $990 the prior year, which can make a huge difference for an individual or family, especially around the holidays. If you did not receive your expected refund, you need to take the time to update your address with the IRS to receive your missing funds."
Steber suggests these steps for locating a missing refund:
For those affected, to prevent this from possibly happening again, consider choosing to have your refund directly deposited into your bank account, rather than mailed to you as a check. Not only does this remove the risk of a lost check, it also gives the taxpayer a more secure, convenient way to access the funds. * Source: Internal Revenue Service
Jackson Hewitt Tax Service Inc. (NYSE: JTX), with approximately 6,600 franchised and company-owned offices throughout the United States during the 2009 tax season, is an industry leader providing full service individual federal and state income tax return preparation. Most offices are independently owned and operated. Jackson Hewitt is based in Parsippany, New Jersey.
SOURCE Jackson Hewitt Tax Service Inc.