04/12/2012 06:05 pm ET

Unclaimed Tax Refunds: IRS Has $1 Billion Waiting For You (Graphic)

Think you don't need to file your tax returns because you don't make enough money?

Think again. Even though you may not owe the IRS anything this year, the IRS may owe you. And you're not going to see one penny of that refund unless you file your personal income tax forms with the IRS.

There a few reasons why you may be owed a refund. Perhaps your employer witheld too much in taxes from your paycheck or you qualified for credits or deductions, like the Earned Income Tax Credit.

There's good news: It's not too late to claim the funds you think you might be entitled to! You actually have three years from the time your taxes are due to claim your refunds. That means that you can still claim your refunds going back to 2008--as long as you file a 2008 income tax form by Tuesday, April 17.

Think you're owed money? Check out TurboTax's interactive graphic, which breaks down unclaimed tax refunds by state.

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