The IRS has some good news for nearly 40,000 New Jerseyans who did not file 2006 federal tax returns: There’s about $43 million waiting for you. The IRS says some people may not have filed because they had too little income to require filing a return even though they had taxes withheld from their wages. The tax refund money can still be collected if residents file their 2006 returns and postmark them by April 15. Otherwise, the money becomes property of the U.S. Treasury. New Jersey IRS spokesman Gregg Semanick said Wednesday that the IRS estimates half of those who could claim refunds for the 2006 tax year would receive more than $666.
There is no penalty assessed by the IRS for filing a late return that qualifies for a refund. APP/AP