(Alexandria, VA) -- Budget-conscious consumers who are trying to stretch their dollars may have some good news waiting for them: more than 380,000 Americans are due a total of $266 million in unclaimed tax refunds or stimulus checks, and an online database from the National Taxpayers Union (NTU) can help people locate their money more easily than the IRS's version. This is the eighth year NTU and its research affiliate's publication Tax Savings Report have sponsored the database, available as a public service at www.ntu.org.
"These days many people are trying to make their money go further, so now more than ever it's important to check for tax overpayments they may have coming" said NTU Vice President for Policy and Communications Pete Sepp. "Our Tax Refund Finder at www.ntu.org is a quick and easy way to see if the IRS owes you money."
Each year, thousands of income tax refund checks are returned to the IRS as undeliverable because the taxpayer has moved, changed names, or simply because the check has an incomplete or improper address. Bucking a recent trend, the number of undelivered refunds (excluding stimulus checks) for tax year 2007 (more than 104,000) dropped 9.6 percent versus the year before, while the dollar amount ($103 million) went down 6.3 percent.
The NTU database is designed to provide the maximum flexibility of search options (by name, tax year, or state), so users can find refunds (or those of relatives and friends) that may be in limbo because of the problems described above. If they have a refund to claim, the site directs taxpayers to the IRS's toll-free number or the IRS's website, where they can securely arrange to receive their money. Although the IRS's website also has an interactive refund feature, the agency requires taxpayers to provide information that makes it difficult to use for citizens who aren't sure whether they have a refund coming, or who can't remember how much it might be.
"As families across America tighten their belts to cope with a slowing economy, they shouldn't forget to look for some financial slack they may already have," Sepp concluded. "A tax refund is not 'free money,' it's 'found money' that belongs in someone's wallet, which is why we've made our Refund Finder at www.ntu.org an easy-to-use tool in tough times."
The 362,000-member NTU was founded in 1969 to work for lower taxes, smaller government, and taxpayer rights at all levels.