Many people haven’t claimed their tax refunds yet and the deadline is coming up.
2019 Unclaimed Tax Refund
It is estimated that about 1.5 million people in the state haven’t processed their tax refunds and there are about $1.5 billion in unclaimed tax refunds, the agency said on Thursday, June 8, 2023. they are encouraging people to file as soon as possible. The DEADLINE for the unclaimed tax refunds for the year 2019 is JULY 17, 2023
The average median refund for the tax year 2019 was $893. According to law, taxpayers are given three years to file and claim their tax refunds. Failure to file within three years could lose more than just their unclaimed tax refunds, and all of that money will be put into the US Treasury.
IRS Commissioner Danny Werfel’s statement, “time is running out for more than a million people to get their tax refunds for 2019,” “many people may have overlooked filing a 2019 tax return due to the pandemic. We don’t want people to miss their window to receive their refund.”
“Many low-and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). For 2019, the credit was worth as much as $6,557,” as announced by the IRS. “The EITC helps individuals and families whose income was below certain thresholds in 2019.”
Filing for 2019 Tax Return
There are a lot information gathered that they will need for filing for their 2019 tax return like requesting copies of key documents: taxpayers with missing Forms W-2, 1098, 1099, or 5498 for the year 2019, 2020, or 2021. Getting online transcripts and other information on their website for those who can’t retrieve their missing papers, and requesting necessary transcripts.