MILWAUKEE — The Wisconsin Department of Revenue (DOR) has matched $10.4 million in unmatched property to its rightful owners.
According to a news release, in March, the DOR will be sending $3.9 million to unclaimed property owners.
Every year, the DOR matches tax records against the state’s unclaimed property roll. If tax records can be matched to an owner on the unclaimed property roll, the owner will automatically be sent a check if owed property values at $2,000 or less. DOR will also send letters to those owed property that’s valued at more than $2000 that explains how to claim the property.
34,078 matches were found this year with $10.4 million worth of unclaimed property. 3.9 million in refund checks will be sent to over 33,000 of those matches. The news release stated that the remaining taxpayers will get letters that explain how to claim their over $6.5 million in unclaimed property.
The first round of checks will start hitting mailboxes in early March.
There is not a fee that unclaimed property owners must pay to the DOR to claim unclaimed property.
According to the news release, unclaimed property includes:
- Funds from savings or checking accounts
- Uncashed dividends
- Insurance policies
- Other accounts owners may be unaware of or may have forgotten.
To learn more or to see if you have unclaimed property please go to the DOR’s website. According to the DOR, one in seven taxpayers has unclaimed property.