The IRS can owe you money, but you must claim it by July 17

You might eventually miss thousands of people if you don't act in time.


THE 2023 Tax season Finished in April, which means that most of us do not plan to think about our taxes again before next year. But this strategy could put you at risk of losing money due to you. Some taxpayers may be eligible to receive a reimbursement from the Internal Revenue Service (IRS), which owes more than a billion non -claimed tax reimbursements. The catch is that you have less than a month left to claim it. Read the rest to find out if you need to act by July 17.

Read this then: The reason n ° 1 that you could be audited by the IRS, warn the experts .

Millions of people did not claim their reimbursements in 2019.

US Treasury Check. Used for tax refunds and also the Covid-19/coronia virus stimulus payments in 2020
istock

In a press release of June 8, the IRS revealed that it was seated on Almost $ 1.5 billion The value of non-claimed tax reimbursements of 2019. According to the agency, nearly 1.5 million people in the United States are still eligible to receive these pre-countryic funds, if they act fairly quickly.

"Time is exhausted for more than a million people to obtain their tax reimbursements for 2019", commissioner at the IRS Danny Werfel warned in a press release. "Many people may have neglected to produce a 2019 income declaration due to the pandemic. We do not want people to miss their window to receive their reimbursement."

But you only have until July 17 to get your money.

woman working from home with taxes
istock

Even if you are late in filing your declaration, taxpayers generally have three years after the deadline in which they can still file and claim their tax reimbursements, according to IRS. After that, any money that was owed to you but did not claim over time becomes the property of the American treasury. AE0FCC31AE342FD3A1346EBB1F342FCB

But with the 2019 income declarations, this period was extended.

"Usually, the deadline for normal deposit to claim old reimbursements falls into the tax deadline in April, which was on April 18 of this year for 2022 income declarations," said the IRS. "But the three-year window for the 2019 non-curled yields was postponed to July 17, 2023, due to the pandemic emergency COVID-19."

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The IRS urges taxpayers to check their files to see if they need to submit.

Mid adult man working at home
istock

In order to claim your money, you will have to submit a 2019 income declaration by the deadline of July 17. And unlike your standard taxes, you will not be able to deposit online. As a spokesperson for the IRS Eric Smith explained The Seattle Times , the agency only makes it possible to be the feedback electronically classified Up to two years after their deadline.

In this spirit, your 2019 yields "must be deposited on paper, whether prepared or submitted with the help of a paid preparer," confirmed Smith. And according to the IRS, "the law obliges taxpayers to approach, send the mail properly and ensure that the declaration of income is made" by July 17 in order to be eligible for any refund.

"We encourage people to check their files and act quickly before the deadline," said Werfel. "IRS has several important ways for people to get help."

The idea of producing a declaration of three years ago may seem intimidating, but the agency said that there are still many ways to collect the information you have to deposit before the deadline. If you are unable to obtain copies of key documents - such as your 2019 W -2 forms - of your employer or your bank, you can order a free Transcription of wages and income on the IRS website.

"For many taxpayers, it is by far the fastest and easiest option," noted the agency.

Some people could recover thousands of dollars.

A United States treasury check with a tax refund
istock

The average reimbursement per taxpayer for the 2019 taxation year was $ 893, according to IRS. But this is not the only money you are missing if you have never claimed your refund.

"Taxpayers could lose more than their reimbursement of the taxed or paid in 2019," warned the agency.

As the IRS explained in its press release, many low and moderate income workers could also be eligible to receive the Income tax credit won (EITC) From 2019. This credit "helps individuals and families whose income was below certain thresholds in 2019" and were worth up to $ 6,557 that year.

Of course, you may not recover your total refund even if you deposit before the deadline for three years, depending on your circumstances.

"The IRS reminds taxpayers looking for a tax refund in 2019 that their checks could be held if they have not produced income statements for 2020 and 2021," added the agency. "In addition, the reimbursement will be applied to all the amounts still due to the IRS or to a state tax agency and can be used to compensate for non -remunerated children's alimony or past federal debts, such as loans students. "

Best Life offers the most recent financial information of high -level experts and latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.


Categories: Smarter Living
Tags: Finance / / News
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