WASHINGTON — Unclaimed refunds totaling approximately $1.2 billion are awaiting about 1.3 million people who failed to file a federal income tax return for 2004, the Internal Revenue Service announced today. However, to collect the money, a return for 2004 must be filed with an IRS office no later than Tuesday, April 15, 2008.
My thoughts are...."too bad...so sad" If people are too lazy to do their taxes from way back in 2004 USE THE MONEY ELSEWHERE!!!!!! 2004!!!
That's what happens if they don't file by April 15, it becomes the property of the treasury. You have 3 years from the due date of the tax return to claim a refund.
It happens! I have an aunt who didn't because they inherited the rest of a farm, and her MIL had a NIGHTMARE going on with the taxes. Rather than fix it, she just stuck her head in the sand. You can do that as long as you don't owe, apparently. I think she is caught up now, but I wouldn't have been able to sleep at night!
I've heard plenty of stories. Some of them are not that great, but generally the people were not trying to avoid paying.
The deficit is not what you think it is. It's the difference between what we import and what we export. I think what you meant was that it could help pay the National Debt. (It wouldn't, but I think that's what you intended to say)
That would be the trade deficit. The budget deficit is the difference between revenues and expenditures. Except in the rare event that revenues exceed expenditures, then the difference is called a surplus. In any event, that's still not what he meant. I agree that he probably meant the national debt. Which is now over 9 trillion dollars, so a billion would not make much of a dent in it.
