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About $1.2 billion in 2022 tax refunds went unclaimed and became the U.S. Treasury's this April 💸 What happens if the IRS owes you money and you never file? The 5 rules. 1. Late penalty: the failure to file penalty is a percent of the tax owed, so when the IRS owes you a refund, it comes to $0. 2. The deadline: a refund has to be claimed within 3 years of the return's due date. After that, the money stays with the Treasury for good. 3. Reminders: the IRS usually doesn't contact people about an
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About $1.2 billion in 2022 tax refunds went unclaimed and became the U.S. Treasury's this April 💸 What happens if the IRS owes you money and you never file? The 5 rules. 1. Late penalty: the failure to file penalty is a percent of the tax owed, so when the IRS owes you a refund, it comes to $0. 2. The deadline: a refund has to be claimed within 3 years of the return's due date. After that, the money stays with the Treasury for good. 3. Reminders: the IRS usually doesn't contact people about an
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Could the IRS force you to sell your home to pay off tax debt? When evaluating your ability to pay, the IRS may consider your home equity, income, and other financial assets. Understanding your IRS tax relief options could help you avoid making a major financial decision before exploring possible alternatives.
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