More than 918,000 taxpayers who haven’t yet filed a tax return for 2010 stand to lose a total of $760 million if they don’t get their 1040 in the mail by Tuesday night at midnight.
If none of the very delinquent taxpayers gets on the ball and files the three-year-old returns, then the money goes to the IRS.
The IRS reassured in its news release: “There is no penalty for filing a late return qualifying for a refund.”