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Home » Valentine's Day » IRS: $1.5 billion in refunds waiting to be claimed, only two weeks left

IRS: $1.5 billion in refunds waiting to be claimed, only two weeks left

Over one million Americans are still required to file a tax return with the IRS to see the $1.5 billion dollars waiting to be claimed.

tax refund text across a check from the IRS and tax return paperwork

The deadline to claim your refund from the IRS this year is April 18, unless you file for an extension.

In order to claim a refund you’re eligible for whether it’s from wages or claimed credits, you must file a return.

Millions failed to claim refunds for 2018, 2019, and 2020.

This $1.5 billion is for those who never claimed in 2018 and the three year limit is almost up.

IRS: How soon until I see my 2022 tax refund?

Who can get this money from the IRS?

Those who did not file taxes in 2018 can claim their missed refunds.

When Americans are owed a refund, they have three years to claim it.

This means those who failed to claim for 2018 will lose out entirely if they do not claim it this year.

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How big could the missed refunds be?

According to the IRS, the average amount for a missed refund is around $813.

States vary for what the average might be.

Oregon has an average of $715 refunds and Alaska’s are as high as $969.

There are credits you may have missed out on in 2018 depending on what you were doing in life.

This could be the earned income tax credit if you had a lower income, the American opportunity credit if you were in school, or child tax credit if you had kids under age 18.

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