Over $1 Billion in Unclaimed Tax Refunds
Deadline Approaching
According to KSL, the tax season is here and the IRS wants to make sure everyone knows they might be owed money. They say there’s over $1 billion in tax refunds waiting to be claimed for the 2020 tax year. Almost a million people in the U.S. still haven’t sent in their tax returns and the deadline is May 17. The head of the IRS Danny Werfel, says it’s important for people to act quickly if they think they’re owed money. The average tax refund could be around $932.
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Secure Your Tax Refund Now
The states where most people might get tax refunds are Texas, California, Florida, and New York. If you’re one of those people who hasn’t filed yet the IRS says you should gather your important documents like W-2s, 1098s, or 1099s from work or your bank. You can also get a free transcript of your income online at IRS.gov. If you don’t claim your tax refund by May 17, the money goes to the government. So, it’s crucial to do it on time especially with all the disruptions from COVID-19. Werfel wants everyone to check their records carefully before the deadline so they don’t miss out on getting some extra cash.