What happens when rebates and refunds are returned to the IRS?”
The IRS is reminding eligible taxpayers that they have until Dec. 5 to claim 115,744 undelivered checks from this summer’s advance child tax credit. After the December cut-off, taxpayers cannot claim the checks until they file their tax returns next year. According to IRS Commissioner Mark W. Everson, the undelivered checks are among nearly 24 million issued this summer and fall for the advance child tax credit. In all, more than $14 billion in child credit checks have been issued. “Time is running out to get an advance child credit check,” Everson said in an IRS press release. “We encourage taxpayers to visit IRS.gov to see if they have an undelivered check from the advance child tax credit mail-out.” In all, the IRS has money for more than 200,000 taxpayers whose income tax refund or advance child tax credit checks were undelivered and returned to the agency. Taxpayers need to update their addresses before the IRS can reissue the checks, which total more than $118 million. In additio
$266 million. That’s how much money the IRS is trying to get to the appropriate taxpayers. Most of that money is from rebate checks that the IRS is having trouble delivering. Yep, this rebate deal is causing all sorts of headaches for the tax agency. First, it didn’t send out thousands of checks because the associated returns had mismatched Social Security numbers. This time, though, the tax man really did put the checks in the mail, but they came back because of bad addresses. This happens every year. Usually, people file returns and move, forgetting to let Uncle Sam also know of their new location. But this year, the undeliverable check problem is exacerbated by the added economic stimulus payment checks. This year’s totals: Currently, the IRS is holding more than 279,000 rebate checks, totaling about $163 million. It’s also got back another 104,000 or so regular refund checks, totaling about $103 million. They all were returned to the agency because of mailing address errors. The un
