Unclaimed Tax Refunds: You Can Still File Your Taxes

tax rebate Tax Refund

Your Tax Refund may be held by the IRS. According to the tax authority, there are still over $1.5 billion in unclaimed Tax Refunds from the 2019 tax year. According to the organization, more than 1.5 million people may have been eligible for a refund for the 2019 tax year but failed to complete a federal income tax return.

In order to get a refund, you must complete a federal income tax return. If you fail to file within a period of three years, your Tax Refund becomes a possession of the U.S. Treasury. Taxpayers typically have three years to submit and get their tax refunds.

Tax Refunds Deadlines

This year, things are a little different since you have more time than normal to file for your refund from the preceding year (2019). That’s because the customary refund filing date falls around the April tax filing deadline. But the tax return filing deadline for 2019 wasn’t regular at all; it was moved to July 15, 2020, because of the epidemic. The three-year window from that date is therefore July 15, 2023, but because July 15 falls on a Saturday in 2023, it is moved to the Monday after.  

If you utilize tax preparation software, you should have no trouble finding the 2019 return—look around for a “prior years” menu or option. 

On the IRS.gov Forms and Publications page, you may obtain forms and instructions if you want to submit your taxes on paper and require a copy of the 2019 tax forms. You could not have access to your tax data and other documents if you didn’t file in 2019. Keep in mind that you must file using your 2019 W-2, 1098, 1099, or 5498 forms. You can ask your employer, bank, or another payer for copies of your previous tax information forms if you don’t already have them. Additionally, you may use the IRS website’s Get Transcript function to request a free salary and income transcript.