Unclaimed money in the United States is at an all time high, $25 Billion, and unclaimed tax refunds make up a large portion of that number. Approximately $2 Billion in unclaimed tax refunds is owed to 1,714,500 Americans who did not file for their return in 2002.

People owed refunds on their 2002 taxes had until April 17, 2006 to file for that tax year and claim their refund. If they do not file the $2 Billion will be forfeited to the government.

Unfortunately, unclaimed tax returns are common. There are a few reasons people do not file. Either they don't owe taxes, they didn't have to file because they earned too little, or they didn't take their earned income tax credit. Earn income tax credits for 2002 are for workers who made less than $11,060 and have no children, earned less than $29,201 and had one child, or earned no more than $33,178 and had two or more kids.

Considering the people who are eligible for the refunds are those who did not make much, they are probably most in need of this money. Most likely they are unaware the money is due to them or they simply don't know how to claim it.

The deadline to claim tax refunds for 2003 is April 15, 2007. People are owed billions from 2003 as well.

You can see if you are owed money if you did not file in 2003 by completing a form.

CLAIMING YOUR REFUND

The IRS will send a refund check after receiving the appropriate filing form, Form 1040 (or 1040A or 1040EZ). This form will indicate how large the refund check should be.

You can download this form at http://www.irs.gov/pub/irs-prior/f1040--2003.pdf or call toll-free (800) 829-3676 to request the form.

If you are owed money from 2003, remember you only have until April 15, 2007 to file or the money will become Uncle Sam's permanently.

If you are owed an unclaimed tax refund you may be owed other unclaimed funds. There are millions of Americans who have lost money they may be completely unaware exists.

This unclaimed money is considered "unclaimed property" and includes the following: