Hundreds of Thousands of Americans Still Haven’t Filed 2020 Tax Returns, IRS Reports
IRS Reveals Nearly 940,000 Americans Haven’t Filed 2020 Tax Returns, With Alaskans Owed Millions in Refunds
The IRS recently said that almost 940,000 people in the U.S. haven’t filed their 2020 tax returns yet. In Alaska alone, around 3,700 folks are owed over $4 million in refunds. According to IRS spokesperson Rodney Bearman, if you didn’t file your taxes for 2020, you might have some money waiting for you. On average, Alaskans who haven’t filed could get back more than $900.
Bearman mentioned that the number of late tax filers changes every year. Usually, about one to one and a half million people don’t file their taxes for different reasons, and everyone’s situation is different.
Extended Deadline for 2020 Tax Returns Offers Opportunity for Unclaimed Refunds
Normally, you have three years to file and get your tax refund before it goes to the U.S. Treasury. But because of COVID-19, the deadline for filing 2020 taxes was extended to May 2024. Bearman also said there’s over $1 billion in total unclaimed refunds from 2020, not counting credits like the earned income tax credit or recovery rebate credit, which could mean even more money back for some people.
READ ALSO: Tax Credits for Family Caregivers Gain Momentum Among Older Voters – Support Soars!