Rhode Island Tax Refunds: Act Now to Claim Unclaimed Funds Before May 17 Deadline
Don’t Miss Out on Unclaimed Rhode Island Tax Refunds: Deadline Approaching!
In a recent announcement, U.S. Senator Jack Reed stated that around 2,600 Rhode Islanders didn’t file their federal tax returns for 2020. As a result they’re still able to get refunds and Economic Impact Payments. The IRS said nearly $1 billion in refunds and rebates from 2020 remain unclaimed with about $2.98 million owed to Rhode Island residents, according to the report of WPRI.
IRS rules say people have three years from the filing date to claim tax refunds. If they don’t, the money goes to the U.S. Treasury. However, due to COVID-19, the tax deadline for 2020 was extended to May 17, 2021. So, the deadline to claim these funds is now May 17, 2024. Also, the IRS isn’t penalizing late filings for 2020 returns letting taxpayers get full refunds even if they missed the first deadline.
Senator Reed stressed the need to act quickly before the May 17 deadline as some may have missed out on refunds due to the pandemic. He encouraged Rhode Islanders to claim their refunds promptly as the median potential refund for the state is $986.
(photo: Budget101)
Claim Unclaimed Rhode Island Tax Refunds: Deadline and Eligibility Requirements
Rhode Island residents can claim 2020 tax refunds and credits by meeting eligibility criteria and not being dependents having a Social Security number issued before May 17, 2021 and filing their 2020 tax return by May 17, 2024. The IRS warns funds may be withheld if later years’ taxes aren’t filed, with owed amounts deducted. Take advantage of this opportunity for financial relief.
