IRS Has $110M in Unclaimed Refund Checks

The Internal Revenue Service wants to track down 115,478 taxpayers who are owed approximately $110 million after their refund checks were returned as undeliverable.

The checks average around $953. Once a taxpayer updates their address with the IRS, they can claim the check (or, in some cases, checks). "Taxpayers should not miss out on getting their money back," said Richard Morgante, commissioner of the IRS Wage and Investment Division, in a statement.

The IRS has a Where's My Refund tool on its Web site that allows taxpayers to look up the status of their refunds and update their addresses, or they can call (800) 829-1954. Another option is filing Form 8822, "Change of Address."

The IRS said that undeliverable refunds account for less than one-tenth of 1 percent of all refunds. So far in 2007, the IRS has processed nearly 105 million refunds, totaling about $240 billion, by mail or direct deposit.