The IRS wants to give California taxpayers $94 million in IRS Tax refunds if they file returns. And if they don’t file soon, that IRS Tax refund money will go to the federal treasury.

Californian Taxpayers Left Millions Of Dollars In Unclaimed IRS Tax Refunds: IRS Will Give It If They File Returns (Photo: AOL)

The money was left behind by Californian taxpayers who didn’t file IRS Tax Refunds

Californian taxpayers who didn’t file IRS Tax Refunds primarily because they earned so little in their jobs that they weren’t required to fill out a 1040 form. They’re eligible to receive the IRS Tax Refunds withheld from their paychecks, but that money won’t come to them automatically and they have to file a return to recover it.

Every year, IRS officials proclaim that about $1 billion to $1.5 billion in IRS Tax Refunds go unclaimed, compared with about $300 billion in IRS Tax Refunds paid. The feds give you more than three years to collect unclaimed IRS Tax Refunds, but for taxes paid in 2020, time is running out.

An estimated 88,200 Californian taxpayers who did not file IRS Tax Refunds in 2020 are owed $94.2 million, which works out to $835 per filer on average.

Read Also: 940,000 Unclaimed 2020 Tax Refunds At Risk Of Expiration – Are You Qualified To Claim?

Although the average amount of IRS Tax Refunds is less than $1,000, there’s more at stake for many taxpayers with unclaimed money

Californian taxpayer’s refund could be increased by the Earned Income Tax Credit,  an additional IRS tax refund for low-income workers that could amount to several hundred dollars for a single person or thousands of dollars for a family with children.

If you paid taxes in 2021 or 2022 but didn’t file an IRS Tax Refunds, the deadline for claiming an IRS Tax Refunds won’t be for another year or two. But there’s no reason to wait; you can file those IRS Tax Refunds now and get your money back sooner.

Read Also: $61 Million In Unclaimed Tax Refunds At Risk For Over 51,000 New Yorkers – Claim It Now!