- $1.5 billion in unclaimed refunds up for grabs
- 1.5 million taxpayers still haven't received their 2019 refunds
- July 17 deadline: Last chance to file and claim your money
The clock is ticking for those who haven't filed their taxes, and there's a staggering $1.5 billion waiting to be claimed in refunds. Imagine what you could do with that extra cash! But don't worry, you still have a chance to seize your share.
The Internal Revenue Service (IRS) reports that approximately 1.5 million taxpayers have yet to receive their refunds from 2019, with the median payout reaching a delightful $893. Mark your calendars for July 17, which is your last shot to file or amend your 2019 returns and grab the money that's rightfully yours.
It's understandable that amidst the chaos of the Covid-19 pandemic, the 2019 tax season wasn't on everyone's radar. However, it's time to face the facts: you might be leaving money on the table! According to Tommy Lucas, a certified financial planner and enrolled agent, people often overlook the potential windfall that awaits them. So, seize this opportunity and secure the funds you're entitled to.
Normally, there's a strict three-year deadline to claim refunds for unfiled returns. Yet, due to the exceptional circumstances of the pandemic, the IRS has granted an extended window for 2019 returns. This is your chance to unlock a treasure trove of "thousands of dollars," especially if you qualify for the earned income tax credit—an invaluable tax break designed to assist hardworking individuals with modest incomes. For eligible filers, this credit could be worth an impressive $6,557. It's a substantial sum that could make a real difference in your life.
Surprisingly, many taxpayers remain unaware that by missing the three-year filing deadline, they forfeit their chance at a refund. Don't fall into that category! Once July 17 passes, any unclaimed refunds for 2019 will become the property of the U.S. Department of the Treasury. So, act now, gather your documents, and start the filing process. The opportunity to reclaim what's rightfully yours awaits!
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