According to a recent survey, it has been found that the internal revenue service has a huge deposit of free funds in the form of lying in its kitty. IRS unclaimed money is said to have $70 million in the form of income tax refunds alone and these belong to the public. This is the figure of a single year-2006. So you have a good chance of claiming your
If we go into details then a total of $30 billion is lying with the government in the form of IRS unclaimed money. The reason behind this phenomenal amount is the fact that most companies or individuals have simply forgotten that their money is lying with the government.
Another major reason this money has gone unclaimed is people simply forget about the money or didn't know it was owed to them in the first place. The reason why we forget could be a serious illness or disability and of course death. It is therefore advisable to keep a track of your unclaimed money or else someone else might take advantage of the situation and redeem your unclaimed amount.
IRS unclaimed money in the state of California alone amounts to a whooping $5.5 billion and they say that one in every five individuals has a share in this IRS unclaimed money. Now the irony lies in the fact that the state government is least bothered in locating the rightful owners of IRS unclaimed money and they seem satisfied having a feast over the ever mounting funds. So, you need to keep a record of your investments and prepare a list of those financial institutions you seem to have pushed your funds into.
If you thought you were the only one who suffered at the hands of the state, think again, for celebrities like Julia Roberts, Kate Hudson and the information and technology giant, Microsoft corporation have not been spared of its wrath either. They have a large claim in the pool of IRS unclaimed money. The state, instead of trying to redirect the funds back to its rightful owners, is quite satisfied using them to resolve their budget deficits. So, it's time you got your IRS unclaimed money by paying a visit to the local authorities.
To find your IRS unclaimed money and other potential missing money owed to you conduct a using your full name.
A simple search could mean thousands of dollars in your pocket! So, what are you waiting for? Search your name for missing money today!
Texas is a big state with big unclaimed money. The amount of unclaimed money lying with the Texas State Comptroller's office is $2 billion and as per their estimates there are some 200,000 people who are entitled to a share of this money but don't know it. In recent times, the state has been able to return more than $532 million to its rightful owners.
As in most states, the amount of unclaimed money continues to grow with each passing year. This is because for every 10 people who make the effort to trace money that is due to them, there are 15 more who don't realize that they have money owing and so do not make the effort.
When people move to new locations, they often forget to leave a forwarding address. Because of this tax refunds and insurance payments are not delivered. In many cases people have inheritances due to them but the executors of the estate are unable to find the beneficiaries. All these funds and any others that are due to a person who cannot be located goes to the State Comptroller's office where it stays until the rightful owner is either found or comes forward to make a claim.
Are there any bank accounts, savings accounts, safe deposit boxes, forgotten paychecks, stock dividends or gift certificates that you have forgotten about or may be unaware of? These need not even be in your name. You are entitled to any unclaimed money that may have belonged to a person now deceased if you are the rightful beneficiary.
One of the reasons why there is so much unclaimed money in Texas and other states is that most people think that its always the other guy who gets lucky in this way and so they don't bother to check and see if money is due to them. Its worthwhile to go through old family records to see if there is any money that may have been forgotten about or was not received. Even if you are not sure about the correct situation or don't have any information, there's no harm in checking up to see if some of Texas's $2 billion in unclaimed money could be rightfully yours.
Go to a good unclaimed money website and see how easy it is to search for money that could be yours.
You have a few options for which database to use to conduct your search:
1. Use an "All-in-One" database
This is the best option for conducting your unclaimed funds search. An all in one database has money from all 50 states and federal databases. Usually an all in one site will offer free searches to make sure you are owed money before accessing the database.
2. See which accounts are yours by looking at the name and origin of the money. You may also see a past or present address associated with the account that is yours.
3. Once you have identified the unclaimed property accounts owed to you all you have to do is print a claim for and submit it with the require proof of identification. Proof of identification is usually copies of a driver's license or state issued ID card and a birth certificate or social security card.
The claim review process takes anywhere from 2 to 16 weeks depending on the state or agency you are submitting the claim to.
If you have a problem with your claim call the agency and request to speak to the unclaimed property division.
Now you are armed with all you need to know about unclaimed property. So go find and claim yours today!
Both Jason Donna & Arthor Pens are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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