FLORIDA (CBSMiami) – Do you need a little extra cash? Everyone’s favorite tax agency might be holding it for you.

$61 million is waiting to be claimed, and more than 62,000 Florida residents are entitled to the money, according to the Internal Revenue Service.

However, since tax returns were never filed, the IRS has not distributed the money and residents now have until April 15 to claim the refunds, the South Florida Business Journal reports.

“If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury,” IRS spokesman Mike Dobzinski told the Sun Sentinel.

The median amount owed to this group is $577.

Taxpayers who file late returns are entitled to a refund and are not penalized for their tardiness, the Sentinel reported. However, the refunds can be held as a result of unpaid child support, back state taxes or unpaid student loans.

(TM and © 2013 CBS Local Media, a division of CBS Radio Inc. CBS RADIO and EYE Logo TM and © 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The South Florida Business Journal and the South Florida Sun-Sentinel contributed to this report.)