$1 Billion Unclaimed: The IRS Requests Immediate Action on the 2020 Tax Return Refund Deadline

Tax Season Countdown: IRS Unclaimed Refund Deadline Approaches

More than $1 Billion in Unclaimed Money: Taxpayers Need to Take Action Now!

Moving fast is urged for taxpayers who have unclaimed refunds from the IRS as the tax season draws to a close. According to Smart News, since over 940,000 of them have over $1 billion in unclaimed money from that year waiting to be recovered, taxpayers who haven’t filed their 2020 tax returns may lose an average refund of $932. There is more urgency now that the deadline is drawing near because the IRS typically holds onto this money for three years before transferring it to the US Treasury.

Over $1 Billion in IRS Refund Deadline Approaching, Urging Taxpayers to Take Quick Action
(PHOTO: www.eventsmauritius.travel)

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An Extension Provides a Second Opportunity for Unclaimed 2020 IRS Refunds

There is a special chance this year for people who were not able to claim their 2020 refunds. The deadline, which was originally set to be three years from the end of the tax season, was extended in 2021 and is now set for May 17, 2024. With this extension, taxpayers will have an extra window of time to get their refunds. But, since time is running out, people who qualify are urged to act now to make sure they don’t lose the opportunity to assert their rights before the deadline expires.

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