Unclaimed Refunds: A Billion-Dollar Opportunity
27,000 North Carolinians Owed Money by IRS! Unclaimed Cash Alert. (PHOTO: WFMY News 2)
Navigating Tax Refund Opportunities Amidst Challenges for North Carolinians
According to WFMY News 2, with over 1 billion dollars waiting to be claimed across the United States, thousands of North Carolinians are among those who may be entitled to refunds from their 2020 tax returns. Laura Hernandez from Liberty Tax Prep emphasizes that many North Carolinians may have missed filing their taxes due to various reasons such as forgetfulness or the disruptions caused by the COVID-19 pandemic. However, there’s good news: all it takes to claim these refunds is completing the 2020 tax return by the extended deadline of May 17, 2024.
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Seizing the Opportunity: Claim Your Refund Now
Refunds are available to more than 27,000 persons in North Carolina alone, with an average payout of $895 and a total of $29 million in refunds distributed throughout the state. The Internal Revenue Service is encouraging taxpayers to submit their taxes as soon as possible by making use of the time and resources that are now available. If taxpayers fail to file by the deadline in May, they will lose money and not receive the refund for North Carolinians. In order to avoid more interest and penalties, those who owe money should also give filing first attention. Important documents, such as Forms W-2, 1098, 1099, or 5498, can be obtained in a few different methods for taxpayers who might be missing them. They can ask banks, other payers, or their employers for copies. As an alternative, taxpayers can quickly and simply obtain salary and income transcripts through the IRS’s online tools, such as Get Transcript Online. A wage and income transcript can be requested from the IRS by filing Form 4506-T, albeit it will take longer to complete for people who are unable to use internet services. Overall, the message is very clear: take action immediately away to assert your rights before time passes by.
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