GEORGE STEPHANOPOULOS (ABC NEWS)(OC): Here's about the last thing you expect to hear from Washington. "We have your money, please come and get it." but that's exactly what the IRS is doing right now, announcing that it's sitting on more than $1 billion that taxpayers own but have failed to claim. ABC's senior national correspondent, Jim Avila, has more on who's eligible for the money and how you can get it.
TAXPAYER (FEMALE): Are you kidding? This is fantastic.
JIM AVILA (ABC NEWS)(VO): It's something you may have seen on "Good Morning America."
TAXPAYER (FEMALE): Oh my God.
JIM AVILA (ABC NEWS)(VO): The sound and sight of joy, as states and cities give back thousands in over collected fees and taxes.
TAXPAYER (MALE): This is unbelievably helpful. This is perfect. Mortgage is met for next week.
JIM AVILA (ABC NEWS)(VO): And now, your rich uncle, Sam, is advertising the biggest giveback of all. $1 billion of overpaid federal taxes, ready to refund to 1 million taxpayers who did not file their 2008 taxes.
DOUGLAS SHULMAN (COMMISSIONER OF IRS): So, our job at the IRS is to make sure the proper amount of taxes are paid, which means we collect the money if you owe it. But we also get it back into Americans' pockets if we owe it back to them.
JIM AVILA (ABC NEWS)(VO): Who's leaving this money on the table? The IRS says mostly low-wage earners, like waiters and waitresses, freelancers and the working poor. People who don't make enough money to owe any taxes, but every week their employer still deducts cash from their check.
JIM AVILA (ABC NEWS)(VO): The average unclaimed refund? More than $600. If they file now, before April 17th, they'll get all that money back. If they don't, what's left behind goes back into the US Treasury.
JIM AVILA (ABC NEWS)(OC): Is there any reason I shouldn't go after it?
FRED SLATER (CERTIFIED PUBLIC ACCOUNTANT): No. There's no reason you shouldn't go after it. There are no legal issues and no other issues.
JIM AVILA (ABC NEWS)(VO): Tax accountants say the IRS uses these refund alerts to lure non-filers into the system. You may not owe this year, but some time in the future, you probably will.
DOUGLAS SHULMAN (COMMISSIONER OF IRS): We think of this as a long-term game. And make sure that the tax system is run fair, year in and year out and we do what's right.
JIM AVILA (ABC NEWS)(VO): And don't worry. If you claim your share of the billion and file now, three years late, it's only a crime if you owe the IRS money. Jim Avila, ABC News, New York.