Nagle, Michael--Bloomberg/Getty Images
By Ethan Wolff-Mann
March 10, 2016

Did you file your 2012 income tax return with the IRS? If not, you could be in for a windfall.

According to the IRS, around one million taxpayers did not file tax returns in 2012 and as a result, there’s around $950 million in unclaimed refunds waiting to be collected. But to get the money, you need to file by April 18, 2016. After that, it becomes everybody’s money–the IRS isn’t obligated to hold onto it after three years.

IRS Commissioner John Koskinen noted that students and other low-earners are likely to be the rightful owners of these refunds and encouraged them to file a return. “Don’t forget, there’s no penalty for filing a late return if you’re due a refund,” he said in a press release.

If you’re one of these people and are wondering whether it’s worth it to try your hand at a Form 1040 or buy TurboTax, the IRS says the median refund for 2012 is around $718. However, the refund will be withheld to those who owe taxes or backed child support.

Failing to file would not only mean missing out on potential refunds, but for longer-income filers, missing out on the Earned Income Tax Credit that can be worth up to $5,891, according to the IRS.

Here’s a list of all the states, the numbers of people with money waiting, and the amounts:

State or District

Estimated Number of Individuals

Median Potential Refund

Total Potential Refunds*

Alabama

18,700

$713

$16,684,000

Alaska

4,700

$834

$5,019,000

Arizona

26,000

$631

$22,078,000

Arkansas

10,100

$692

$8,987,000

California

94,900

$656

$82,782,000

Colorado

19,300

$667

$16,961,000

Connecticut

11,800

$803

$11,511,000

Delaware

4,200

$771

$4,012,000

District of Columbia

3,600

$741

$3,343,000

Florida

64,700

$721

$58,598,000

Georgia

34,300

$642

$29,395,000

Hawaii

6,500

$740

$6,091,000

Idaho

4,400

$607

$3,652,000

Illinois

40,300

$782

$38,893,000

Indiana

22,000

$751

$20,448,000

Iowa

10,800

$764

$9,917,000

Kansas

11,000

$699

$9,811,000

Kentucky

13,500

$746

$12,122,000

Louisiana

20,600

$726

$19,767,000

Maine

4,100

$651

$3,432,000

Maryland

22,600

$722

$21,108,000

Massachusetts

20,600

$767

$19,714,000

Michigan

34,600

$733

$32,118,000

Minnesota

15,200

$657

$12,981,000

Mississippi

10,800

$646

$9,325,000

Missouri

22,800

$675

$19,886,000

Montana

3,500

$669

$3,083,000

Nebraska

5,400

$695

$4,720,000

Nevada

12,500

$704

$11,280,000

New Hampshire

4,400

$804

$4,284,000

New Jersey

30,600

$803

$30,016,000

New Mexico

7,700

$715

$7,181,000

New York

57,600

$796

$56,310,000

North Carolina

29,700

$619

$24,469,000

North Dakota

2,600

$831

$2,682,000

Ohio

37,300

$717

$33,321,000

Oklahoma

18,500

$744

$17,411,000

Oregon

15,700

$620

$12,820,000

Pennsylvania

40,200

$796

$38,243,000

Rhode Island

3,200

$777

$3,014,000

South Carolina

12,500

$633

$10,648,000

South Dakota

2,800

$785

$2,707,000

Tennessee

19,700

$702

$17,318,000

Texas

96,400

$771

$93,998,000

Utah

7,400

$640

$6,316,000

Vermont

2,000

$698

$1,689,000

Virginia

29,000

$698

$26,297,000

Washington

26,100

$764

$25,292,000

West Virginia

5,100

$800

$4,870,000

Wisconsin

12,900

$647

$10,837,000

Wyoming

2,700

$851

$2,908,000

Totals

1,037,600

$718

$950,349,00

Estimated Number of Individuals

Median Potential Refund

Total Potential Refunds*

18,700

$713

$16,684,000

4,700

$834

$5,019,000

26,000

$631

$22,078,000

10,100

$692

$8,987,000

94,900

$656

$82,782,000

19,300

$667

$16,961,000

11,800

$803

$11,511,000

4,200

$771

$4,012,000

3,600

$741

$3,343,000

64,700

$721

$58,598,000

34,300

$642

$29,395,000

6,500

$740

$6,091,000

4,400

$607

$3,652,000

40,300

$782

$38,893,000

22,000

$751

$20,448,000

10,800

$764

$9,917,000

11,000

$699

$9,811,000

13,500

$746

$12,122,000

20,600

$726

$19,767,000

4,100

$651

$3,432,000

22,600

$722

$21,108,000

20,600

$767

$19,714,000

34,600

$733

$32,118,000

15,200

$657

$12,981,000

10,800

$646

$9,325,000

22,800

$675

$19,886,000

3,500

$669

$3,083,000

5,400

$695

$4,720,000

12,500

$704

$11,280,000

4,400

$804

$4,284,000

30,600

$803

$30,016,000

7,700

$715

$7,181,000

57,600

$796

$56,310,000

29,700

$619

$24,469,000

2,600

$831

$2,682,000

37,300

$717

$33,321,000

18,500

$744

$17,411,000

15,700

$620

$12,820,000

40,200

$796

$38,243,000

3,200

$777

$3,014,000

12,500

$633

$10,648,000

2,800

$785

$2,707,000

19,700

$702

$17,318,000

96,400

$771

$93,998,000

7,400

$640

$6,316,000

2,000

$698

$1,689,000

29,000

$698

$26,297,000

26,100

$764

$25,292,000

5,100

$800

$4,870,000

12,900

$647

$10,837,000

2,700

$851

$2,908,000

1,037,600

$718

$950,349,00

SPONSORED FINANCIAL CONTENT

You May Like

EDIT POST