About $1 Billion in Unclaimed Tax Refunds in the United States

From the United States, a federal agency makes an important announcement related to taxes.

According to official sources, the Internal Revenue Service (IRS) has stated that around 940,000 residents of the northern country have a deadline to file taxes for unclaimed refunds for the year 2020.

The federal agency (IRS) itself has said that the amount accumulated for this reason amounts to one billion dollars.

Likewise, they pointed out that the deadline to file the returns is May 17 of this year, 2024, and that those interested should proceed quickly to obtain the refund as soon as possible.

Various media have echoed this notification due to its importance for Americans who could receive up to $932 in refunds.

The cities in the United States with the highest number of people who could receive these refunds are Texas with 93,400, California shows 88,200, in Florida it is 53,200, and in the case of New York, it is 51,400.

Danny Werfel, the IRS commissioner, called on taxpayers to request their refunds as soon as possible since the deadline is approaching, and they could lose them.

What to Do to File a Return?

In this regard, the IRS suggests that interested parties request (W-2, 1098, 1099, or 5498) from the bank where they are associated or from their company. They can also request a copy of wages and net income for which they will use the IRS’s “Get Transcript Online” application.

This year, 2024, the deadline was extended to May (17th) due to the impact of the Covid-19 pandemic, as it normally takes place in April, which is when the three-year period ends where taxpayers request those refunds.

Another aspect noted in the information is that if any taxpayer has not made the declarations corresponding to 2021 and 2022, the refund for 2020 will be withheld until they make those for those years.

Finally, IRS officials urge Americans to thoroughly review all their documents in case they are owed any refunds (which could happen) to present all the documentation before the closing date in May.