Don’t Miss Out on Unclaimed 2020 Tax Refunds
Significant Unclaimed Tax Refund Funds Highlight Urgency for Taxpayers
According to Tampa Bay 10, over 940,000 Americans might miss getting their tax refund money back from 2020, warns the IRS. In Florida alone, about 53,200 people could miss out. The deadline to file for these refunds is May 17.
The total unclaimed tax refund money is huge over $1 billion across the country. In Florida, it’s about $58.2 million. Each person could get around $932 back but in Florida it’s about $891. Time is running out because usually people have three years to claim their tax refunds but there was an extension due to COVID-19. The IRS gives tips for those who need to file for their 2020 tax returns.
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$1 Billion in Unclaimed 2020 Tax Refunds: IRS Urges Americans to Act Before May 17 Deadline – Claim It Now! USA Today (PHOTO: USA Today)
Important Reminders from the IRS
Furthermore, if you haven’t done your taxes for 2021 and 2022 your 2020 tax refund might be held back says the IRS. They might also use your 2020 tax refund to pay off any money you owe for things like child support or student loans. To make it easier for people to do their 2020 taxes the IRS says you should ask your boss for important papers like W-2s. If you can’t get those you can use tools online like Get Transcript Online. It’s super important to do everything you need to get your refund and avoid problems with debts or not doing your taxes.
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