Unclaimeed refunds
IRS Has $1.3 Billion for People Who Have Not Filed a 2005 Tax Return
Unclaimed refunds totaling approximately $1.3 billion are awaiting over a million people who did not file a federal income tax return for 2005, the Internal Revenue Service announced today. However, to collect the money, a return for 2005 must be filed with the IRS no later than Wednesday, April 15, 2009.
Especially in these tough economic times, people should not lose out on money that is rightfully theirs," said IRS Commissioner Doug Shulman. “People should check their records, especially if they had taxes withheld from their paychecks but were not required to file a tax return. They may be leaving money on the table, including valuable tax credits that can mean even more money in their pockets."
1 comment:
I have two questions regarding the proposed "Trader-Tax" (pending legislation HR1068), which I cannot find answers to.
If you could help me,...or direct me to someone else, I would be very appreciative.
My question specifically pertains to how this proposed tax might apply to an individual who trades open-ended mutual funds (not ETFs):
1. "Would an individual who daily trades open-ended mutual funds (such as Rydex, Profunds, or Direxion -- shares priced at 4pm daily) be subjected to this proposed tax? And if so, what minimum holding period would be required to avoid this proposed tax."
2. "Would trading open-ended mutual funds in a tax deferred account (IRA, 401k, or Variable Annuity) be subjected to, or exempt from, the proposed trader tax? (i.e. funds cannot be withdrawn from such tax-deferred accounts until age 59 1/2)."
Also, in general, I would appreciate your opinion on whether this proposed Trader-Tax HR 1068 legislation is likely to pass.
Thank you very much for any thoughts. These are difficult enough times,...this proposed tax is unbelievable.
Thanks, Jim
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