Incredible tax statistic: Nearly 1.4 million people did not file 2006 returns, and they are owed as much as $1.3 billion!

The IRS estimated that the median return that was not claimed for 2006 is $604. People may not have filed because their income levels were below the level that required them to file even though their employers may have withheld taxes from their wages.

Taxpayers may be due a larger refund than they realize. In 2006 many taxpayers qualified for a refund of between $30 and $60 based on excise taxes included in phone bills between March 2003 and July 2006. Some low income tax payers may also be able to claim the Earned Income Tax Credit (EITC).

If you have not filed your 2006 return, be sure to file by April 15, 2009. The law generally provides a three-year window for claiming a refund.

Ask your CPA or tax advisor for details. You can also find information on the IRS web site.