Share this @internewscast.com

If you didn’t file a tax return amid the worst of the Covid-19 pandemic and believe you’re eligible for a refund, the Internal Revenue Service wants to hear from you.

The agency said this week that more than $1 billion in unclaimed refunds for tax filing year 2020 are sitting in its coffers, and that it’s still possible for eligible filers to claim.

Due to the pandemic, filers got an unusual extension on the regular three-year return-filing window. They now have until May 17, 2024 to claim their refund for tax year 2020.

“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 in a statement. “We want taxpayers to claim these refunds, but time is running out for people who may have overlooked or forgotten about these refunds. There’s a May 17 deadline to file these returns so taxpayers should start soon to make sure they don’t miss out.”

The IRS estimates the median refund amounts for 2020 to be $932 — that is, half of the refunds are more than $932 and half are less. 

“People faced extremely unusual situations during the pandemic, which may have led some people to forget about a potential refund on their 2020 tax returns,” Werfel said. “People may have just overlooked these, including students, part-time workers and others. Some people may not realize they may be owed a refund. We encourage people to review their files and start gathering records now, so they don’t run the risk of missing the May deadline.”

Many low- and moderate-income workers may also be eligible for the Earned Income Tax Credit (EITC), worth as much as $6,660 for taxpayers with qualifying children for the 2020 tax year.

The IRS notes 2020 tax refunds may be held if an individual has not filed tax returns for 2021 and 2022.

Share this @internewscast.com
You May Also Like
WATCH: National Geographic's un-bee-lievable trailer for new series 'Secrets of the Bees' from executive producer James Cameron

Buzz-Worthy Reveal: National Geographic Unveils ‘Secrets of the Bees’ Trailer, Executive Produced by James Cameron

National Geographic has unveiled an exciting new trailer for the latest chapter…
Latest news on Iran war: Northwestern University professors in Qatar, Jordan amid conflict with US, Israel

Northwestern University Professors in Qatar and Jordan Respond to Escalating Iran Conflict with US and Israel

A Northwestern University professor, Christina Paschyn, along with her family, is currently…
Asking Eric: Cheating ex returns; asks for second chance

Eric’s Dilemma: Former Partner Seeks Reconciliation After Infidelity

Dear Eric: I was married for several years to a woman who,…
Australian restaurant slapped with $28K fine for serving children 'poisoned' drink instead of juice

Shocking Mishap: Australian Eatery Fined $28K After Serving Toxic Drink to Kids Instead of Juice

In a shocking lapse of safety protocols, an Australian restaurant was fined…
James Talarico takes down firebrand Jasmine Crockett in fierce Dem battle for Texas Senate

James Talarico Triumphs Over Jasmine Crockett in High-Stakes Texas Senate Democratic Showdown

In a nail-biting primary race on Tuesday, Texas state Representative James Talarico…
US F-15 pilots shot down in Kuwait got help after likely carrying 'blood chits'

US F-15 Pilots Downed in Kuwait Received Aid, Likely Utilized ‘Blood Chits

When American pilots were accidentally shot down in Kuwait, they encountered locals…
Las Vegas first responders conduct seven-hour rescue of injured climber stranded 600 feet up rock face

Las Vegas Heroic Rescue: First Responders Save Injured Climber Stranded 600 Feet High in Daring Seven-Hour Operation

In Nevada, first responders executed a dramatic rescue operation lasting seven hours…
Gavin Newsom reveals California Hall of Fame inductees after early Arnold Schwarzenegger snub

Gavin Newsom Announces California Hall of Fame Inductees Following Initial Exclusion of Arnold Schwarzenegger

Governor Gavin Newsom announced the latest group of distinguished individuals to be…
Four US service members killed in Iranian drone attack ID’d by Pentagon

Pentagon Identifies Four US Service Members Killed in Iranian Drone Attack: A Tragic Loss

On Tuesday, the Pentagon released the names of four out of the…
Ex-mayor convicted after son walks in on lewd act at alcohol-infused pool bash

Former Mayor Found Guilty After Son Discovers Inappropriate Behavior at Boozy Pool Party

A former Louisiana mayor has been convicted of engaging in sexual conduct…
Austin bar shooting victims named as FBI investigates potential terrorism nexus

FBI Investigates Possible Terrorism Link as Austin Bar Shooting Victims Announced

Officials have disclosed the names of the three individuals who lost their…
Rhode Island teacher accused of sexting, kissing high school boy

Rhode Island Educator Under Investigation for Inappropriate Conduct with High School Student

A high school physical education teacher faces charges of third-degree sexual assault,…