Every year, millions of dollars go unclaimed in the United States — and a big part of that money belongs to everyday people who either don’t know about it or forget to claim it. In Arizona, this issue has grown in recent years, with record-breaking numbers now being reported by the state.
This unclaimed money includes federal and state tax refunds, forgotten bank accounts, unused service payments, and even uncashed checks. While the money legally still belongs to the rightful owners, it remains unclaimed — just sitting there, waiting to be claimed.
Why Is This a Big Deal?
In Arizona, the Department of Revenue (ADOR) returned over $88 million in unclaimed property last year — the highest amount ever recorded for the state. That’s a massive increase from the average of $57 million seen over the last five years.
But what’s even more surprising is that there’s still a lot more money left.
An internal ADOR audit revealed another $17 million in unclaimed tax refunds. This amount belongs to around 46,000 people who overpaid taxes but never got their money back — mainly due to a technical system error that failed to show these funds on the online search portal.
What Caused the Problem?
Due to a glitch in the tax system, many taxpayers don’t even know they are owed money. These refunds are not appearing in Arizona’s public unclaimed property search tool, which means people who are eligible might never check or claim their money.
In response, ADOR has created a special task force to fix the issue and speed up the process of returning this money to its rightful owners.
What You Can Do Right Now
If you live in Arizona, you should check regularly to see if any unclaimed funds are in your name — especially if:
- You’ve changed your address
- You’ve worked for multiple employers
- You’ve closed a bank account
- You’ve received a tax refund in the past but didn’t get a payment
How to Search for Unclaimed Money:
- Visit Arizona’s unclaimed property portal
- Enter your full name
- If there’s a match, you’ll need to submit ID proof and documents linking you to the money
You can also check the federal website for unclaimed tax refunds, especially if you haven’t filed or received a return in recent years.
Don’t Wait — Time Limits May Apply
One important thing to remember is that federal tax refunds must be claimed within three years. If you miss that window, the money is returned to the U.S. Treasury, and you lose it forever.
For state-held unclaimed property, there’s no expiration date, but the sooner you claim it, the better.
A Legal Dispute Highlights the Issue
This topic has gained more attention because of an ongoing legal case between Arizona and the IRS. The IRS is trying to tax a special refund called the Arizona Families Tax Rebate, and the state’s attorney general is currently challenging that in court. While that case plays out, experts suggest staying informed about all possible refunds that may apply to you.