Posts Tagged ‘nc state unclaimed money’

The economic stimulus checks the IRS sent under the Bush administration were a big relief for scores of Americans currently having trouble with the rising costs of fuel, groceries and the current state of the US economy. These, combined with tax cuts do make things easier for taxpayers across the country. Sadly, a lot of North Carolina’s senior citizens and disabled still don’t know they qualify for the tax credit- leaving $2.45 million of North Carolina unclaimed money from unclaimed tax stimulus checks.

“The biggest concern the IRS has is getting these people to claim the money they’re entitled to,” Mark Hanson, spokesman for the IRS says in an August newsreport on NC unclaimed money. “If they’re eligible for benefits, we want them to get them. … We just want to tell them, ‘Look, the money is there. It’s yours. Go get it.’” Lucy Gorham of Chapel Hill advocacy group MDC Inc. says it’s a national issue: “And I think the IRS has been surprised at how much money is left unclaimed. … But when you have a group of seniors not filing tax returns, that’s logical to me. Social Security isn’t taxed, and all those Social Security recipients might not even know they’re eligible.

These unclaimed stimulus checks, along with NC unclaimed property money from lost asset like uncashed checks, languishing stocks, dormant bank accounts and insurance and pension benefits add-up to the State of North Carolina unclaimed money pile currently worth over half a billion dollars.

According to Heather Franco of the NC Treasurer’s Office, “The North Carolina Department of State Treasurer holds nearly $700 million in unclaimed property.” In a report done by The Daily Vidette on state unclaimed property, she goes on to say that there are a million unclaimed property accounts in the North Carolina unclaimed property database. NC has a population of around 8 million people, so that translates to 1 out of every 8 North Carolina resident having unclaimed property money coming to them.

Curt McDuffee of Cary, NC was reunited with $1,365 worth of North Carolina unclaimed funds from an overpayment when his now late mother was admitted in a hospital several years ago. “After we get it, I’ll split it with my brother, and I’ll take my lovely wife out to dinner with part of it, and we’re planning to donate the rest of it to our church,” the elated McDuffee says in a WRAL report. The NC TV station was responsible for getting the NC resident in touch with his missing money.

The reason the North Carolina unclaimed money has piled-up is because most owners of unclaimed money in NC aren’t even aware they’re missing money in the first place. Anybody can be owed unclaimed property, so all residents should do an on-line unclaimed money search and check if they have NC unclaimed funds in their name. With high fuel prices and national credit crunch plaguing the US, now is as good a time as any.


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