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Department of Revenue looking to return nearly $600 million in unclaimed money

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Wisconsin Department of Revenue wants residents to check their site for unclaimed property

APPLETON, Wis. (WFRV) There’s another type of green to excited about in Wisconsin because the state may owe you some cash.

The Wisconsin Department of Revenue (DOR) is looking to return unclaimed money.

Erin Egan, Director of the Bureau of Tax Operations with the Wisconsin DOR says, “We have about $586.3 million in unclaimed property in the portfolio here in Wisconsin.”

The DOR reports another nearly 22-million dollars in stock and mutual funds. So how did the state acquire this money?

Eagan says, “The property is funds that we get from businesses like banks. If you have a checking or savings account you maybe forgot about or if you have a payroll check that you received and haven’t cashed.”

Businesses are required to report unclaimed money to the state and the Department of Revenue holds these funds until they’re claimed by the owner.

Eagan says, “We have money and property in our database going back to the 1970s, so that’s part of the reason we have so much property in our system.”

Some may receive no money, but most will probably find that the state owes you a couple dollars and one lucky resident hit paydirt.

“The biggest amount that I’ve personally seen was like 1.2 million dollars”, says Eagan.

Residents should also check the names of their deceased relatives names on the Department of Revenue’s unclaimed property website.

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