What could you do with $1,148?
That's the average amount of the tax refund checks that were returned in 2009 to the Internal Revenue Service because they were undeliverable.
Whether your unclaimed refund is less or more, any amount would be nice as your holiday bills roll in.
In all, as of late last year, the IRS had 107,831 refund checks totaling $123.5 million in missing money.
The main reason the checks were returned is simple: The taxpayers moved after filing their 2008 tax returns and forgot to give the IRS their new addresses.
In some cases, the addresses on people's tax forms were illegible, causing the checks to be issued to wrong addresses.
Let the IRS know where you live
Whatever the reason, the IRS has money that could be yours. All you have to do is let the agency know where to send it.The simplest method is to provide your address electronically, via the agency's refund-tracking Web page.
Taxpayers can also call 1-800-829-1954 to check on a refund and receive instructions on how to update an address.
And the IRS still accepts a mailed Form 8822 (.pdf download) for address changes, but this method will take longer.
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Tracking down your refund
When using the Web or phone option, have your 2008 return handy. You'll need to provide your Social Security number, your filing status and the amount of the refund shown on your tax return. If the money went back to the IRS, you will be prompted to enter your correct mailing information during the tracking process.
However, if you moved and simply want to use the online or phone option to let the IRS know about your new address, you're out of luck. You'll have to use Form 8822 to ensure future refunds make it to your new home.
Collect directly
The IRS deals with returned refunds every year, and every year the agency cites the undeliverable checks as a reason for people to have refunds deposited electronically into a bank account.Almost 73 million filers used direct deposit in 2008 -- almost a 10% increase over the previous filing year. Some of those new direct deposits can be attributed to last year's rebate checks.
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However, the IRS says that, regardless of what type of tax payment is issued, it will get to taxpayers faster and that electronic delivery is more secure and convenient. There is no check to get lost -- or returned as undeliverable -- and there's no special trip to the bank to cash or deposit the check.
To request direct deposit next filing season, simply follow the instructions on the "refund" line of your tax return. You can have a refund deposited directly regardless of which return -- 1040EZ, 1040A or 1040 -- you file.
This article was reported by Kay Bell for Bankrate.com.
Updated Jan. 12, 2010
