IRS owes Nevadans $11.2 million in 2012 refunds

Nevadans who didn’t file their 2012 income tax return are missing out on $11.2 million in refunds, according to a release from the IRS.

Most people have a three-year window to claim their tax refund, so the estimated 12,500 residents who didn’t file a return in 2012 are running out of time. The median refund for 2012 is $704 for Nevadans. If the money goes unclaimed, it becomes the property of the U.S. Treasury.

The IRS estimates just over one million people did not file their tax returns in 2012, which leaves $950 million in refunds unclaimed nationwide. This is including the Earned Income Tax Credit for low- and moderate-income workers, which is worth as much as $5,891 for 2012.

There’s no fee to file a late tax return for people who are owed a refund, and the money can still be claimed if a return is filed before this year’s April 18 tax deadline.