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The IRS may have a 2007 refund for you, and you can still collect it

The Internal Revenue Service said this week that it may have as much as $1.1 billion in refunds for people who did not file a tax return in 2007.The good news for the nearly 1.1 million people who may have money waiting for them: You can still get the refund, if you file a 2007 tax return by April 18.There’s no penalty for filing the return late if you qualify for a refund. But you only have t

The Internal Revenue Service said this week that it may have as much as $1.1 billion in refunds for people who did not file a tax return in 2007.

The good news for the nearly 1.1 million people who may have money waiting for them: You can still get the refund, if you file a 2007 tax return by April 18.

There’s no penalty for filing the return late if you qualify for a refund. But you only have three years to do so.

This isn’t chump change, either: The IRS said the median refund is $640.

The IRS said some people may not have filed a return that year because they made too little money to require one, even though they had had taxes withheld from their wages.

Of course, there are some caveats. The checks will be withheld if you did not file a return in 2008 or 2009, either. You also may not see the money if you owe other federal taxes, if you are overdue on other government debt, such as student loans, or if you have unpaid child support bills.

Tax forms and instruction for prior years are available here.