The IRS estimates that about 42,000 people in this state who did not file their 2018 tax return are owed a combined total of more than $43 million dollars in refunds. And the IRS wants to get that money to those who should have it – but the clock is ticking.
If you neglected to file your return 3 years ago, and think you might have a refund coming, you have until this year’s tax deadline: Monday, April 18.
Miss the deadline, and that money becomes the property of the U.S. Treasury
Nationwide, the IRS estimates that it is sitting on almost $1.5 billion in unclaimed refunds from the 2018 tax year. And that refund could be a sizeable amount. The IRS estimates the midpoint for the potential refunds for 2018 is $813 – that is, half the refunds are more than $813.
By failing to file a tax return, you may lose more than a refund of taxes withheld or paid during 2018. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit which was worth as much as $6,431 in 2018. You must file a return to claim that credit.
More Info: Time is running out to file for tax year 2018 and still get unclaimed refunds
