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
ISIS, Iran escalating global campaign against Jews, Israel spy chief says

Global Threat Alert: Iran & ISIS Intensify Anti-Jewish Campaign, Warns Israel’s Top Spy

Israel’s chief of national intelligence has issued a stark warning, highlighting the…
MLB news: Chicago White Sox add Japanese baseball star Munetaka Murakami with $34 million, 2-year contract

White Sox Secure Japanese Sensation Munetaka Murakami with $34 Million, Two-Year Deal

CHICAGO — In a strategic move to bolster their lineup, the Chicago…
New text messages fuel Alex Murdaugh's push for new trial

Legal Twist: Could Court Clerk’s Misconduct Open the Door for a Murdaugh Retrial?

Alex Murdaugh’s defense team has expressed a sense of “cautious optimism” regarding…
Manhunt underway in South Africa after gunmen open fire at tavern, killing 9 and wounding 10

Massive Search Launched in South Africa Following Deadly Tavern Shooting with 9 Dead, 10 Injured

In a tragic incident early Sunday, nine individuals lost their lives and…
Target Employee Receives Standing Ovation from Tens of Thousands at TPUSA

Target Employee Honored with Standing Ovation by Thousands at TPUSA Event

Jeanie Beeman, a Target employee who faced harassment for wearing a shirt…
Former classmate says suspect in Brown, MIT killings was ‘socially awkward’ and ‘angry’ during college years

Ex-Classmate Reveals College Years of MIT and Brown Murder Suspect: ‘Socially Awkward and Angry

Reflecting on the tragic events at Brown University and MIT, a former…
Rangers lose to Predators as J.T. Miller sits with injury

Rangers Stumble Against Predators: Impact of J.T. Miller’s Absence on the Ice

Filip Forsberg and Steven Stamkos both found the back of the net,…
Jeffrey Epstein file 468: At least 16 files disappear from DOJ Epstein files library, including photo showing Donald Trump

DOJ Reports Missing Epstein Files: 16 Documents, Including Trump Photo, Unaccounted For

NEW YORK — In a perplexing twist, a collection of 16 files…
Rob Reiner's son Nick appears in court for first time in parents' murder case

Hollywood Scion Nick Reiner Enlists Renowned Defense Lawyer Following Shocking Arrest in Parents’ Murder Case

Defense attorney Alan Jackson has announced that he is representing Nick Reiner,…
Man rushed to hospital in apparent self-inflicted shooting at Atlanta airport

Atlanta Airport Incident: Man Hospitalized After Alleged Self-Inflicted Gunshot Wound

On Sunday afternoon, police in Atlanta swiftly responded to a shooting incident…
Yale professor’s father charged in mother’s decades-old murder, says he ‘used me as bait’: report

Yale Professor’s Father Indicted in Decades-Old Murder Case Involving Mother; Allegedly Used Son in Scheme: Report

A Yale professor has broken her silence regarding her 81-year-old father’s arrest,…
Australian PM Albanese gets booed during Bondi Beach vigil honoring Hanukkah attack victims

Australian PM Albanese Faces Backlash at Bondi Beach Vigil for Hanukkah Attack Victims

During a solemn vigil at Bondi Beach on Sunday, Australian Prime Minister…