The IRS might just have some money for you!

The Internal Revenue Service has about $266 million sitting around, waiting to be retrieved by you. The agency says that 279,000 economic stimulus checks never got to taxpayers ($163 million) and 104,000 tax refunds never made it there either ($103 million). The most common reason taxpayers don't get receive their checks? Address typos or taxpayers who moved without forwarding their mail.

The average stimulus check sitting around waiting to be claimed is $583. That money might come in handy, especially with the current economic turmoil. If you think you might be entitled to a check, you can use this tool on the IRS website to check your stimulus check status and update your address. There's a similar tool for those missing tax refunds.

Remember that when it comes to the IRS, the taxpayer generally bears the full burden of making sure records are accurate. That means if you move, it's your responsibility to notify the IRS. Having the the correct address on file with the agency ensures that you'll get any notices or money in a timely fashion. If you need to update your address with the IRS, you can follow the instructions on this page.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

What is a CPA (Certified Public Accountant)?

A CPA (Certified Public Accountant) is an accounting professional licensed and credentialed by a state or territory to offer accounting services, including tax preparation, to the public.

Read More

Brought to you by TurboTax.com

How to File an Amended Return with the IRS

If you've made an error on a tax return you already filed or simply come across new information, such as a tax deduction or credit you now realize you qualify for, file an amended tax return to make the correction. The Internal Revenue Service (IRS) knows the tax code is complex, and that people make mistakes. The process for filing an amendment is straightforward. Simply file Form 1040X, Amended Tax Return, along with the corrected or additional documents you did not originally file with your return.

Read More

Brought to you by TurboTax.com

2018 Tax Reform Impact: What You Should Know

Congress has passed the largest piece of tax reform legislation in more than three decades. The bill went into place on January 1, 2018, which means that it will affect the taxes of most taxpayers for the 2018 tax year.

Read More

Brought to you by TurboTax.com

10 Things You Won't Believe Are Taxed

From Fantasy Football to cancelled debt, here are 10 things taxed by the IRS that might surprise you.

Read More

Brought to you by TurboTax.com
Read Full Story
Your resource on tax filing
Tax season is here! Check out the Tax Center on AOL Finance for all the tips and tools you need to maximize your return.

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.