Many American taxpayers are likely to be eagerly awaiting their tax refunds by this time of the year, when reimbursements are made by the Internal Revenue Service (IRS) for any excess amount paid to the federal government.

If the bank recovers the funds and returns them to the IRS, the IRS will send a paper refund check to your last known address. You can also initiate a trace on your refund. If funds aren’t available or the bank refuses to return them, the case may become a civil matter between you and the financial institution and/or the account owner.