The government has noticed that finding federal unclaimed funds have experienced huge increase in the recent years and this have even proved to be a success for many across the country, whose success stories are inspiring others to do the same. Regardless of the increased amounts of people who have found federal unclaimed money, the federal government is still sitting on billions waiting to be claimed.
Searches for unclaimed funds have been gaining impetus in recent years, with the simplification of the process of the unclaimed money search to a great extent. There has been a rise in success stories across the U.S.A about federal unclaimed funds proving successful. These stories are making wave in the market and prompting many others to follow their steps. Numerous agencies are working in cooperation with federal agencies to solve the growing problem of unclaimed property and money, and have devised several simple tools and processes to enable the common man to find federal unclaimed funds, easily.
Federal unclaimed money comes from a variety of sources. The most common of those being unclaimed IRS or tax refunds. Despite the excitement of receiving a tax refund check from the government, there is currently millions of dollars that lay with the federal government in uncollected tax refund checks.
Many federal unclaimed money success stories have been shared at Good Morning America. 103-year-old, Margaret Martin, became the second oldest American to receive unclaimed funds from the state. It was from federal unclaimed proceeds from an uncollected tax refund, which she was supposed to collect years ago. Her story has only excited the minds of many across the country to conduct and find their own federal unclaimed money. Tate Reeves, Mississippi State Treasurer, gave her the money personally, while she was unaware about any Mississippi unclaimed cash in her name and said, “No it was an absolute surprise and I’m delighted to know it,” when asked about it.
The Benedictine monks at Saint Leo Abbey also received financial bounty worth $19,656.62, which came from the shares owned by abbey in a company that was acquired by the state. These funds were turned over to the federal government when they were unable to contact any of the monks at Saint Leo Abbey.
Geraldine Baginski, from Naperville, Illinois, received a check for close to $50,000 from the Illinois State Treasurer, which was her federal unclaimed funds. Geraldine is only one of many who have federal unclaimed funds in their name.
Many people who have federal unclaimed funds waiting for them exist today as much as they ever did, as the states have millions of unclaimed property and money still in their holdings. Thus, the state and federal governments are working together to find ways to return the unclaimed funds to their respective owners, and these steps have proved successful for many. Despite the efforts the federal government is taking to reunite their citizens with federal unclaimed funds, there is still billions of dollars waiting, at an increasing rate.