A deadline is coming up for those who may have unclaimed tax refunds from 2020. IRS spokesman, Christopher Miller, says there is a chunk of unclaimed money out there.
“The IRS estimates there is nearly $11 million waiting for around 10,000 people in Iowa who did not file a 2020 tax return,” he says. There is a three-year deadline for each tax filing year for you to claim your refund. The deadline for filing for 2020 refunds is May 17th, which gives you a little more time as the normal tax filing deadline was extended by the pandemic.
“So we issued a notice at that time letting folks know that the regular deadline for taxes had been postponed to May 17th which is why it’s the deadline to get those old refunds,” Miller says. Miller says the pandemic left a lot of people in different situations and that is why they may not have filed a return in 2020. “Perhaps these folks that fall into this category had a part-time job or a small job, and they made money but didn’t make enough to legally require them to file a tax return. So they didn’t,” he says. “But what they may not realize is if your employer was withholding money from your check for taxes, you could get that back in the form of a refund.”
Miller says many low and moderate-income workers also may be eligible for the Earned Income Tax Credit for 2020 as well.