The IRS Has 940,000 Unclaimed Tax Refunds From 2020 That Are About To Expire
March 25, 2024 2:13PM PDT
Credit: MGN
WASHINGTON (AP) — The IRS is warning taxpayers that they may be leaving more than $1 billion on the table.
The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide.
The average median refund is $932 for 2020.
Texas, California, Florida and New York are states with the largest amount of people potentially eligible for these refunds.
The IRS advises taxpayers to request their forms from their employer or bank or order a free wage and income transcript at IRS.gov.
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