IRS Ready to Hand Out Billions: Claim Your Money

Federal government has more than $1 billion taxpayer refunds from 2008.
2:14 | 02/24/12

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Transcript for IRS Ready to Hand Out Billions: Claim Your Money
Here's about the last thing you expect to hear from Washington we have your money please come -- yet. But that's exactly what the -- is doing right now announcing that a sitting on more than a billion dollars to taxpayers own but it failed to claim. ABC senior national correspondent Jim Angela has more on who's eligible for the money and you can get. Are you kidding this is fantastic it's something you may have seen on Good Morning America. The sound -- -- of joy and states and cities give back thousands of over collected fees and tax. This is unbelievably. Helpful as the perfect -- met for next week. And now -- rich Uncle Sam is advertising the biggest give back a ball. One billion dollars of overpaid federal taxes ready to refund. To one million taxpayers who did not file their 2008. Taxes so our job at the IRS is to make sure the proper amount of taxes are paid which means we collect the money if you -- it. -- but we also get it back into americans' pockets. If we -- it back to them who's leaving this money on the table. The IRS says mostly low wage earners like waiters and waitresses freelance and the working -- People don't make enough money owe any taxes but every week their employer still -- cash from their check. The average unclaimed refund more than 600 dollars if they file now before April 17 they'll get all that money back. If the bill what's left behind goes back into the US treasury. Is there any reason they shouldn't go after it. Not there's no reason you shouldn't go after -- there are no legal issues and no other issues. Tax accountants say the IRS uses these refund alerts to -- non filers into the system. You may -- know this year but sometime in the future you probably will we think of this as a long term game and make sure that the tax system is run fair. Year end and year out and we do what's right and don't worry if you claim your share of the billion and file now three years late. It's only a crime if you owe the IRS money. -- novel -- ABC news New York. And for step by step directions on how you can collect any iris finds -- to you. Head to our website abcnews.com. Slash worldnews.

This transcript has been automatically generated and may not be 100% accurate.

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