Michigan residents are being urged to check their records and file their 2020 tax returns if they haven’t already done so, as the Internal Revenue Service (IRS) announces that approximately 35,000 individuals in the state are owed refunds totaling $38,274,800.

The average refund amount for Michiganders stands at $976, with a median refund of $932. However, despite the substantial sums waiting to be claimed, time is running out, with the deadline for filing these unclaimed refunds set for May 17th.

IRS Commissioner Danny Werfel emphasized the importance of taxpayers claiming these refunds, particularly as the window for filing for 2020 has been extended due to the COVID-19 pandemic. Typically, taxpayers have three years to claim refunds before the funds revert to the U.S. Treasury.

While Michigan residents are among those with unclaimed refunds, other states like Texas, California, and Florida also have significant numbers of potentially eligible individuals.

In related news, a list of the ten most expensive places to live in Michigan for 2024 has been released, with Birmingham topping the list, followed by Beverly Hills and Huntington Woods. The ranking provides insight into the cost of living in various areas of the state, offering valuable information for residents and prospective movers alike.

Taxpayers are encouraged to visit irs.gov/forms-instructions or call 1-800-829-3676 for current and prior year tax forms and filing instructions. Failure to claim these refunds by the deadline means the money will become the property of the U.S. Treasury.