The Internal Revenue Service says that you may be owed hundreds or thousands of dollars, but your time to claim it is running out. For 2019, around 1.5 million taxpayers are owed IRS refunds. To get the funds, you must file your 2019 tax return by July 17.
“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,” IRS Commissioner Danny Werfel said.
According to the IRS, the average unclaimed refund is around $900, but low- and moderate-income employees may be eligible for more than $6,500 if their income qualifies them for the Earned Income Tax Credit.
More than $1.4 billion combined is owed in 2019 refunds.
Residents in every state are owed money, with tens of thousands of taxpayers owed refunds in California, Texas, Florida, New York, Pennsylvania, and other states.
If taxpayers do not file and receive their refunds, the funds revert to the United States Treasury.
How to claim your IRS refund
To receive your 2019 refund, you must first file your taxes for that year.
More information is available at irs.gov.
You can obtain missing documentation from your employer, bank, or other companies that paid you in 2019. On the IRS website, you may also request a tax transcript, which will provide you with the information you need to file your 2019 taxes.
Eligibility for the Earned Income Tax Credit
If you qualify for the Earned Income Tax Credit, your 2019 refund could be larger. The following are the income levels:
- $50,162 ($55,952 if married filing jointly) for those with three or more qualifying children
- $46,703 ($52,493 if married filing jointly) for people with two qualifying children
- $41,094 ($46,884 if married filing jointly) for those with one qualifying child
- $15,570 ($21,370 if married filing jointly) for people without qualifying children