IRS may owe you $900 but time to claim is running out
The Internal Revenue Service is issuing a final reminder to some 1.5 million taxpayers: You may be owed money but time to claim is running out.
The money is owed as refunds for some people who didn’t file for tax year 2019. The IRS estimates the average median refund for tax year 2019 is just under $900.
“Time is running out for people owed a tax refund in 2019,” said IRS Commissioner Danny Werfel. “The final window closes on July 17 for taxpayers who didn’t file a tax return for 2019 to claim their refund. The IRS continues to urge people who may have overlooked filing during the pandemic to act quickly before they lose their final chance to claim a potentially substantial refund.”
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In Alabama there are an estimated 23,900 individuals who haven’t filed for 2019 with a total potential refund of $23.7 million. The median potential refund in Alabama is $880.
By law, taxpayers normally have three years to file and claim their tax refunds before the money becomes the property of the U.S. Treasury. That was changed due to the COVID-19 pandemic, pushing the deadline back to taxpayers to property address and mail their tax return to July 17.
Not everyone is guaranteed a refund, of course, including those who have not filed for 2020 or 2021. Also, a refund will be applied to any amounts owed to the IRS or a state tax agency or used to offset unpaid child support or past due federal debts, such as student loans.