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It’s no Mega Millions lottery, but it’s still $50 million that belongs to thousands of New Yorkers.

Currently, there is more than $1.1 billion in unclaimed 2007 federal tax refunds, including $50 million for some 40,000 New Yorkers who have yet to file their returns retroactively, Sen. Charles Schumer (D-NY) said yesterday.

Taxpayers have until April 18 to file or the government gets to keep their money. There is no penalty for filing a a late tax return that qualifies for a refund.

“Time is ticking,” Schumer said at a news conference yesterday. “After that, the money that should go to you will line Uncle Sam’s pocket instead.”

According to Schumer, the average refund for New Yorkers is $706.

To be eligible for the refund, returns for 2008 and 2009 must also be filed.

(with Newsday)

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