More than $1 billion in federal tax refunds unclaimed as filing deadline approaches: How to claim yours
If you didn't file a tax return amid the worst of the Covid-19 pandemic and believe you're eligible for a refund, the Internal Revenue Service wants to hear from you.
If you didn't file a tax return amid the worst of the Covid-19 pandemic and believe you're eligible for a refund, the Internal Revenue Service wants to hear from you.
The agency said this week that more than $1 billion in unclaimed refunds for tax filing year 2020 are sitting in its coffers, and that it's still possible for eligible filers to claim.
Due to the pandemic, filers got an unusual extension on the regular three-year return-filing window. They now have until May 17, 2024 to claim their refund for tax year 2020.
“There’s money remaining on the table for hundreds of thousands of people who haven’t filed 2020 tax returns,” said IRS Commissioner Danny Werfel in a statement. “We want taxpayers to claim these refunds, but time is running out for people who may have overlooked or forgotten about these refunds. There’s a May 17 deadline to file these returns so taxpayers should start soon to make sure they don’t miss out.”
The IRS estimates the median refund amounts for 2020 to be $932 — that is, half of the refunds are more than $932 and half are less.
Rating: 5