Nearly $1 Billion in Unclaimed Tax Refunds Set to Transfer to US Treasury
Act Now: IRS Deadline Approaching to Claim Unclaimed 2020 Tax Refunds
Time is running out for nearly a million taxpayers who might be owed money from their 2020 tax returns. The IRS is sitting on over $1 billion in unclaimed tax refunds with an average amount of $932 per person. If you did not file taxes in 2021 because you did not think you qualified forgot or simply avoided the hassle you could be missing out. But you need to act fast as the IRS usually only holds onto these tax refunds for three years. For those who missed out on their 2020 refund the deadline to claim it is looming.
The clock is ticking and taxpayers have until May 17, 2024 to claim any missing money from their 2020 tax refunds. After this date the IRS will transfer the unclaimed tax refunds to the US Treasury. This year there is a bit of a reprieve due to the extended deadline for filing taxes back in 2021. However, with less than two months left it is essential for anyone who has not filed to take action now. Do not let your hard earned money slip away.
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Unclaimed Tax Refunds: 940,000 Americans May Be Due $1B from IRS – Act Now to Secure Your Share! (PHOTO: CNET)
Don’t Miss Out: Take Action to Claim Your Unclaimed 2020 Tax Refund Now
If you are one of the almost 940,000 taxpayers who never claimed their 2020 refund now is the time to act. Whether it is for the Recovery Rebate Credit or another reason the IRS could owe you money. The process to claim your refund is straightforward but procrastination could cost you. Check your eligibility and file your taxes for 2020 before May 17, 2024 to ensure you do not miss out on what is rightfully yours.
