Each year millions of dollars in federal tax refunds go unclaimed by American taxpayers. In fact, according to the Internal Revenue Service (IRS), a combined $123.5 million in tax refunds have gone unclaimed this year. In Indiana alone, 1,377 Hoosiers are owed money. You may be one of them.
In most cases, a tax refund goes undelivered when the IRS or U.S. Postal Service does not have the taxpayer's current address on file. In order to receive their refunds, taxpayers must simply update their addresses with the IRS. To learn more and see if the IRS owes you money, please click the link below.
Does the IRS owe you money?
In these tough economic times, I believe putting more money back in the pockets of middle-class families is critical to turning our economy around. That's why I voted to cut income taxes for 95% of working Americans as part of the Economic Recovery Plan approved earlier this year. Since the bill's passage, over 2 million Hoosiers have seen their taxes reduced by as much as $800.
In addition, I supported important tax relief to help homebuyers purchase their first homes. The First-Time Homebuyers Tax Credit can be worth up to $8,000 and has already been wildly successful. About 6,000 Hoosiers have been able to take advantage of this program, and I was pleased that Congress recently extended the deadline to April 30, 2010 and opened up the credit to more homebuyers purchasing their principal residence.
Extending this deadline is not just good for new homebuyers, it's good for current homeowners too. By boosting home sales in areas that have experienced significant numbers of foreclosures, this credit has begun to stabilize home values for neighborhoods across the country. In addition, new home sales have promoted home construction and realtor jobs in our community; putting our neighbors back to work.
These policies just make good sense, and I will continue to support common sense proposals that put money back in Hoosiers pockets and spur economic recovery.