Sigma Tax Pro Gives Notice To Tax Pros To Heed IRS Declaration Of Nearly $1 Billion In Unclaimed Refunds

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Sigma Tax Pro Urges Tax Pros To Heed IRS Declaration Of Nearly $1 Billion In Unclaimed Refunds

Sigma Tax Pro
Taxpayers may be missing out on more than just their refund amounts. Many individuals also qualify for EITC, which provides aid to families below certain income thresholds.

Sigma Tax Pro implores tax pros to be diligent in reviewing their clients previous year returns to investigate if they are among the more than one millions taxpayers who did not file a 2012 tax return.

Under the current law, taxpayers are allowed a three-year window to claim their refund. For those who did not participate in the 2012 filing season, this is their last chance to claim the money to which they are rightfully entitled. Taxpayers are reminded that, in order to claim their prior year refund, all subsequent years must also be filed. If taxpayers are having issues obtaining prior year forms they can use the IRS tool “Get My Transcript by Mail.” The deadline to file for 2012 is April 18th, 2016, or April 19th for those in Maine and Massachusetts.

Ian Gardner, of Sigma Tax Pro, reminds tax pros that, “...Taxpayers may be missing out on more than just their refund amounts. Many individuals also qualify for EITC, which provides aid to families below certain income thresholds.” The IRS has published total potential refund amounts for each state, with the highest potential refund amounts coming from Texas, California, Florida, and New York. Tax pros in these areas are encouraged to be more diligent in ensuring their clients file, and do so within the allotted window. To contrast, Vermont, North and South Dakota, and Wyoming had the lowest potential amounts.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base.

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Ian Gardner
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