The IRS has $1.1 billion in unclaimed tax refunds from 2014

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Every year, millions of people don’t file their taxes. It might be because they’re afraid they owe money to the IRS that they can’t pay, or because they think their income falls below the threshold required to file.

But if you didn’t file taxes in 2014, you might want to pay attention.

According to the IRS, Americans left $1.1 billion in unclaimed federal income tax refunds in 2014. The money belongs to about one million taxpayers who didn’t file their returns, and the IRS says about half of the refunds are for more than $847.

RELATED: States where Americans pay the highest in state income taxes

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States where Americans pay the highest in state income taxes
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States where Americans pay the highest in state income taxes

California

State income tax: 1% to 13.3% 

Maine

State income tax: 5.8% to 10.15%

Oregon

State income tax: 5% to 9.9%

Minnesota

State income tax: 5.35% to 9.85%

Iowa

State income tax: 0.36% to 8.98%

New Jersey

State income tax: 1.4% to 8.97%

Vermont

State income tax: 3.55% to 8.95%

Washington, DC

State income tax: 4% to 8.95%

New York

State income tax: 4% to 8.82%

Hawaii

State income tax: 1.4% to 8.25%

Wisconsin

State income tax: 4% to 7.65%

Idaho

State income tax: 1.6% to 7.4%

South Carolina

State income tax: 0% to 7%

Connecticut

State income tax: 3% to 6.99%

Arkansas

State income tax: 0.9% to 6.9%

Montana

State income tax: 1% to 6.9%

Nebraska

State income tax: 2.46% to 6.84%

Delaware

State income tax: 2.2% to 6.6%

West Virginia

State income tax: 3% to 6.5%

Georgia

State income tax: 1% to 6%

Kentucky

State income tax: 2% to 6%

Louisiana

State income tax: 2% to 6%

Missouri

State income tax: 1.5% to 6%

Rhode Island

State income tax: 3.75% to 5.99%

Maryland

State income tax: 2% to 5.75%

North Carolina

State income tax: 5.75%

Virginia

State income tax: 2% to 5.75%

Oklahoma

State income tax: 0.5% to 5.25%

Massachusetts

State income tax: 5.1%

Alabama

State income tax: 2% to 5%

Mississippi

State income tax: 3% to 5%

Utah

State income tax: 5%

Ohio

State income tax: 0.495% to 4.997%

New Mexico

State income tax: 1.7% to 4.9%

Colorado

State income tax: 4.63%

Kansas

State income tax: 2.7% to 4.6%

Arizona

State income tax: 2.59% to 4.54%

Michigan

State income tax: 4.25%

Illinois

State income tax: 3.75%

Indiana

State income tax: 3.3%

Pennsylvania

State income tax: 3.07%

North Dakota

State income tax: 1.1% to 2.9%

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The IRS is making this announcement now because time is running out for people to claim their refunds. Generally, Americans have three years to file a past return before their refund money becomes property of the U.S. Treasury. That means April 17, 2018, is the last day for people who didn’t file their returns in 2014.

Failing to file federal returns also varies greatly by state. In Vermont, 27,000 people failed to file their return in 2014, leaving behind about $2 million. In Texas, 108,000 people didn’t file a tax return in 2014, leaving behind a whopping $122 million.

If this notice applies to you, there a few things to consider. First, if you file your 2014 return, your refund will be held if you also neglected to file a return in 2015 and 2016. Also, if you owe money for child support or past due debts (like student loans) the IRS will take those fees out of your refund.

Filing a past return could also be lucrative. The Earned Income Tax Credit (EITC) is designed to help low- and moderate-income families. In 2014 the tax credit was worth as much as $6,143, which you could claim if your income was below a certain threshold. For example, a single person with three or more children could qualify for the EITC if they made less than $46,997.

Those wanting to file an old tax return can find the appropriate forms on the IRS documents page. To get your hands on old income forms (W2, 1098 or 1099), taxpayers can request copies from their employer or bank. If unable to do so, you can also order a free wage and income transcript at IRS.gov using the Get Transcript Online tool.

The window to file your 2014 taxes ends April 17, 2018, so all returns must be mailed and postmarked by that date.

Brittany is a reporter at Yahoo Finance. Follow her on Twitter.

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