THE BUZZ!
IRS has 940,000 unclaimed tax refunds from 2020 that will expire in just 7 WEEKS. Is one of them yours?
First up.
You could be leaving some of your money on the table. And the U.S. treasury will gladly keep it if you don’t want it.
According to the IRS, it is holding over $1 billion in unclaimed money for nearly 940,000 taxpayers from 2020. The average unclaimed refund size from 2021 is $932.
Taxpayers who never claimed their 2020 refund are running out of time to act. By law, the IRS keeps unclaimed tax refunds for three years. The unclaimed money will be forfeited if not claimed within the given timeframe.
And Maryland is on the list. An estimated 22,000 individuals qualify for an average potential refund of about $991. The total potential refund is over $26 million in unclaimed funds.
IRS advises taxpayers who are eligible for the 2020 refunds to start filing your returns early. Request copies of 2020 documents ASAP to begin the process.
Maybe you forgot, overlooked it, or didn’t know you were owed one. But, it’s time to claim what’s yours. Get your money.
Source: Daily Mail
