Billions of Dollars of Unclaimed Money From the IRS

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This report from ABC News can also be found here.


ABC Breaking News | Latest News Videos

Learn more about getting your unclaimed IRS tax refund here.

Presenter: with taxes underway, billions of dollars in refund still remain unclaimed, with   the average family leaving more than $450 in deductions on the table..
ABC Chief Rebecca Harris talks with important tips about taxes.

Tonight a staggering statistics about your taxes, Americans are losing out on an estimated 1billion in refund of about $460 per person

Female1: so how do I get that?

REBECCA: there are many little known tax deductions. The cost of your work uniform can be deducted from your taxes. Infact anything you buy for work, uniform, supplies and tools you use on the job can all be deducted.

REBECCA: are you saving for retirement

Man2: yes, I am on an IRA

REBECCA: The you can deduct it

Depending on how much you make you can deduct fees like financial planning expenses like brokers fees, some magazine subscriptions

Man2: That’s awesome, I didn’t actually  know that actually

REBECCA: Plus a break in for people who travel during business hours, the cost of going to from work, you cant deduct that but you can deduct the cost of transportation within the workday.

If you work two jobs, you can deduct the cost of getting from one to the next.

Man1: they are going to be glad you showed up at the farm market, you’re telling me there are even more deductions we didn’t know about?
REBECCA:  that’s right.  The IRS estimates there is a billion dollars available for people who didn’t claim collect in 2012. What you need to collect is file that tax refund for 2012 by Mid-April this year, you could collect as much as $718 just for doing that.

M2: this will be the last year for 2012?
F1: it expires

Nebraska Unclaimed Funds

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Nebraska Unclaimed FundsNebraska is currently holding more than $135 million in unclaimed funds.

These are the most common examples of unclaimed property:

  • Insurance claim payments
  • Dividends
  • Security deposits
  • Life insurance proceeds
  • Vendor payments
  • Wages
  • Stocks
  • Bonds
  • Utility deposits
  • Miscellaneous outstanding checks
  • Safe deposit boxes
  • Gift certificates
  • Dormant checking/savings accounts
  • Rebates

Generally, property goes unclaimed because checks aren’t cashed or there is no activity with an account.


For example, if you had a savings account and did not withdraw or deposit any money in it for five years, the bank would, after attempting to contact you, remit that money to the State Treasurer.

It would then become the State Treasurer’s responsibility to try to locate you.

Unclaimed property is turned over to the State Treasurer’s Office every year by companies from across the country. Once you’ve had unclaimed property, chances are you’ll have it again — so keep checking for your name.

All unclaimed properties are held forever, subject to claim by the rightful owner or heirs.

If you know that the property is valued UNDER $300:
Submit a claim online or call the State Treasure’s office at (402) 471-8497.

If you know that the property is valued OVER $300:
Mail the notarized claim form along with a photocopy of your Driver’s License and Social Security Card and a list of previous addresses.

If you’re filing on behalf of a business:
Mail a notarized claim form along with proof of your ability to represent the business such as a business card, documentation of the company’s FTIN and a photocopy of your photo ID.

If you’re an heir claiming on behalf of an estate:
Mail a notarized claim form, a photocopy of your Driver’s License, Social Security card, documentation of your right to act as a representative of the estate, and a copy of the original owner’s death certificate.

Email or call the Unclaimed Property Staff at 402-471-8497 if you have any questions.

If someone on the list is deceased, then the nearest living relative is entitled to claim the money.

It may take several weeks for all the paperwork to be processed and the money sent to you, especially during the advertising season in the spring.

You can still prove that you’re the unclaimed property owner, even if you don’t know what the property is or where it came from.

Simply send in a copy of your driver’s license, a copy of your social security card and a list of former addresses in Nebraska for the last 10 years.

The Treasurer’s office will verify the information we have and let you know if you’re the rightful owner.

If you are claiming the unclaimed property on behalf of someone who is deceased or you are a personal representative, please include the appropriate documentation to show that you represent the estate of that person (if the owner is deceased, please include a copy of the death certificate).


Did you know you can make money finding unclaimed money for other people?

There is a little known business that lets you do that. Unclaimed money finders locate people that don’t know they money being held for them and help them to recover it.

In return, they charge a commission after the money is recovered.

Please click here if you would like to learn more about becoming a Nebraska unclaimed money finder.

Bruce Almighty

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If you look around the site you will come across many comments from people looking for their unclaimed money.

I’ve received many, many more emails from people also looking for their unclaimed money.

I would truly like to help as many people as I can, but it is just impossible time-wise with everything else else going on in life, not to mention running a business!

Sometimes I feel like Jim Carrey in Bruce Almighty when he has to answer everyone’s prayers.  See the below video to see what I’m talking about.

You see, as unclaimed money finders, we don’t look for a person first and then do a search to see if they have money.

We actually do the complete opposite.  We check a database of people owed money, then we search for the person owed the money.  This way we already know that they have money coming to them and we just need to make them aware of that.

However, we realize that a lot of people are coming to the site looking for their own unclaimed money.

Because of that, we have teamed up with a company called CashUnclaimed.com to help you with your search.

CashUnclaimed is a private source of unclaimed money records from all 50 states & many Federal agencies.

They have a huge variety of sources. So instead of having to search dozens of government sites to find your money – you can search all these records from one location on their site.

When you perform a free trial search they display the total dollar amount in unclaimed funds that they show reported by the appropriate government agencies. This does not guarantee that this money is 100% absolutely yours.

What it means is that there is that total dollar amount shown by government agencies under your name and common variations of your name. It means there are funds matching your name and they are eligible to be claimed.

The dollar total they display is the actual total amount they have listed in their database. You will need to perform your own due-diligence & verify these funds listed are for you and not for someone else who shares a name with you.

Their optional paid premium subscription goes FAR beyond a simple database search. They will help you with the entire claims process! They provide complete instructions, guides, sample claim forms & instructional ebooks to assist you with the claims process. They even provide a live session with an asset recovery specialist to help you through what can be a complicated & confusing process.

CashUnclaimed.com contains one of the largest databases for unclaimed money in the world.  Their current database lists billions of dollars in unclaimed money, property, accounts and assets from all 50 states and several Federal agencies that could belong to you.

They are not an unclaimed property locator service (as we are) and do not charge you a percentage of the money you claim (as we do).

Here’s an example of their paid member’s search:

cashunclaimed-sample-search-2012-08-26_1321-small

They also offer a free trial search on their homepage that lets you take a “sneak peek” inside our database. These records are limited and do not show you the full information needed to submit a claim. In order to unlock the full information about these records you must purchase a premium subscription.

Cash Unclaimed Money Search charge a very small fee to help cover their expenses. Access to their help, services and search tools range from $11 to $129 depending on which services you decide to order. Depending on how many lost money searches you perform, you could pay just pennies per unclaimed money search.

They currently offer 3 payment options:

1-Time Payment for 12 months of access
1-Time Payment for lifetime access
Monthly Automatic Recurring Subscription that renews automatically every month until you cancel.  You can cancel at any time by visiting their Support Desk & following the simple instructions.

If your name is listed, you will have to contact the institution listed as holding the money. They do not claim your money for you. You must do that. In addition to filling out a claim form, proof of ID will be need to be provided to whichever agency is holding your money – most likely one or more of the following:

Social Security Number
Birth Certificates
Marriage Certificates
Death Certificates
Proof of Previous Addresses
Identification such as Drivers Licenses or Passports.

If you are interested in getting started with CashUnclaimed.com and looking for your own unclaimed money then click on the coupon below: