$41 Million in Unclaimed 2020 Tax Refunds: IRS Urges North And South Carolina Residents to Act Before May 17 Deadline!

Claim Your Share of $41 Million in Unclaimed 2020 Tax Refunds Before May 17 Deadline

Over $41 Million in Unclaimed 2020 Tax Refunds Await NC and SC Taxpayers

According to FOX8 WGHP, residents of North and South Carolina could be missing out on a significant amount of money as the IRS reports millions in unclaimed 2020 tax refunds. Nearly 940,000 Americans across the United States who has unclaimed 2020 tax refunds with the average refund being $932. The deadline to file and claim these unclaimed 2020 tax refunds is fast approaching on May 17. In North Carolina alone about 27,500 residents could receive a refund averaging $895. This adds up to more than $29 million in unclaimed 2020 tax refunds. In South Carolina approximately 11,900 residents might receive an average refund of $840 totaling more than $12 million.

“There’s money remaining on the table for hundreds of thousands of people who haven’t filed 2020 tax returns,” said IRS Commissioner Danny Werfel. “We want taxpayers to claim these unclaimed 2020 tax refunds but time is running out for Americans who may have overlooked or forgotten about these refunds. There’s a May 17 deadline to file these returns.” By law taxpayers have three years to file and claim their tax refunds. If they do not file within this period the money becomes the property of the U.S. Treasury. For unclaimed 2020 tax refunds the usual deadline was extended to May 17, 2024 due to the COVID-19 pandemic giving Americans more time to file and claim their refunds. “Americans faced extremely unusual situations during the pandemic,which may have led some Americans to forget about a potential refund on their unclaimed 2020 tax refunds,” Werfel explained. “People may have just overlooked these including students part-time workers and others. Some Americans may not realize they may be owed a refund.”

READ ALSO: 2022 Inflation Reduction Act (IRA) Key To $100B Investment: Biden’s Clean Energy Tax Credits Now Law – Check It Out!

$41 Million in Unclaimed 2020 Tax Refunds: IRS Urges North And South Carolina Residents to Act Before May 17 Deadline! (PHOTO: Investopedia)

IRS Offers Guidance and Resources for NC and SC Residents

Furthermore, to ensure you do not miss out on your potential refund the IRS recommends checking any records and filing the necessary tax returns as soon as possible. This is especially crucial for students, part-time workers, and anyone who might have worked temporarily during 2020. The extended deadline offers a final chance to claim unclaimed 2020 tax refunds that rightfully belongs to taxpayers. The process to file and claim the refund is straightforward, and the IRS has resources available to help. Don’t miss out on your chance to claim your refund. Ensure your 2020 tax returns are filed by May 17, 2024 and potentially receive the money that is waiting for you. For more information and to get assistance with filing visit the IRS website or contact a tax professional.

READ ALSO: $24 Billion Homelessness Spending Audit: California Governor Faces Tough Questions