Taxpayers have nine days left to claim their unclaimed tax refunds from 2019.
The IRS calculates that there is roughly $1.5 billion in unclaimed refunds from tax year 2019, and it is urging people to apply by the deadline of July 17, according to a news release."Time is running out for more than a million people to get their tax refunds for 2019," IRS Commissioner Danny Werfel said.
"Many people may have overlooked filing a 2019 tax return due to the pandemic. We don't want people to miss their window to receive their refund. We encourage people to check their records and act quickly before the deadline. The IRS has several important ways that people can get help." The IRS gave relief for a number of 2019 and 2020 taxpayers who struggled to file on time due to the COVID-19 pandemic, offering a waiver of relevant return penalties. The average median refund for 2019 is $893, according to the agency.
Those who need to obtain the forms required to file can request copies from their employer, bank, or other payers who assist in their federal gross income.The refund amount is reliant on each taxpayer's household's tax status. California and Texas each have over 100,000 people who may be entitled to a tax refund, the IRS estimates.
Many low-income or moderate-income workers could qualify for the Earned Income Tax Credit, a tax break that accounts for inflation each year for both part-time and full-time workers.
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