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Didn't File Your Taxes in 2013? Over $1 Billion in Tax Refunds Will Soon Be Gone if You Do Not Act Fast

Didn't File Your Taxes in 2013? Over $1 Billion in Tax Refunds Will Soon Be Gone if You Do Not Act Fast

If you have been procrastinating and have not yet filed your 2013 federal tax return and have a refund coming, time is running out!  If you do not file the 2013 return by April 18, 2017 your 2013 refund will be forfeited to the U.S. Treasury.

The IRS estimates that in excess of 1 million taxpayers are owed refunds for 2013 averaging a whopping $763 per return. Don't think your refund will be that big? You could be mistaken. What many taxpayers overlook are the refundable tax credits that increase their refunds far above what is withheld from their income.

Those credits include the earned income tax credit for low- to moderate-income taxpayers with earned income (wages or self-employment) that can be as high as $6,044 for a married couple with three children and even as much as $487 for a single individual with no children. Other credits are the child tax credit for those with children under age 17, a portion of which is also refundable for certain taxpayers, and the American Opportunity Tax Credit that can produce a refundable credit up to $1,000 for low- to moderate-income taxpayers who paid higher education tuition and related qualifying expenses in 2013. 

Don't lose out; call one of our tax professionals today to help you claim your 2013 refund before the deadline.

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Spencer Wilson

Spencer Wilson

Spencer Wilson, EA is a tax preparer based in Long Beach, CA. Spencer Wilson Financial Management Services has been serving the Greater Los Angeles Area and Orange County since 2004. <br /> We began in the heart of Naples in Long Beach and we continue to work hard offering tax preparation and planning, business accounting and bookkeeping and payroll services . <br /> We have helped many different people and businesses succeed financially and take control over their finances.

SPENCER WILSON FINANCIAL MANAGEMENT SERVICES
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