IRS Urges Taxpayers to Claim $1 Billion in Unclaimed Refunds Before May 17 Deadline
940,000 Americans Missed Filing 2020 Tax Forms, Leaving Over $1 Billion in Unclaimed Refunds
The IRS found that more than 940,000 Americans didn’t finish their tax paperwork for 2020. This led to over $1 billion in unclaimed refunds. On average, that’s about $932 per person. The IRS Commissioner, Danny Werfel, said they want to give this money back to the rightful owners, but time is running out. The deadline to submit is May 17th.
Taxpayers typically have three years to submit their claims and get their refunds. In the event that this deadline is missed, the money goes into the government’s coffers. The IRS is urging people who have not yet filed their tax returns for the 2020 tax year to do so immediately because of the approaching deadline. The IRS website offers comprehensive guidance on filing requirements and refund requests, making it an invaluable tool for anyone looking to recover their proper portion of these unclaimed money.
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$1B Tax Refunds Millions of Americans Overlook – Are You One of Them?(PHOTO: Getty Images)
Urgent Call to Action: Claim Your Share of $1 Billion in Unclaimed Refunds Before Deadline
The significant amount of unclaimed refunds at risk highlights how urgent the issue is as the deadline draws near. These programs may offer many taxpayers much-needed financial support or relief during hard times. It is crucial to file taxes on time and get refunds since there are billions of dollars that go unclaimed. Taxpayers throughout the nation are reminded by the IRS’s call to action to make sure they meet their responsibilities and take advantage of the chance to recover what is properly theirs before it’s too late.
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