Americans Have One Day Left To Claim $1.5 Billion In Tax Refunds

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The government is waiting for taxpayers to make claim to tax refunds owed to them from three years ago. Time is running out.

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Taxpayers have three years from the original deadline to submit a return and claim a refund, according to the IRS. Individuals who filed for an extension have three years from the extension date to file their return. That means the deadline this year for 2016 returns that were granted an extension will be Oct. 15, 2020.

If you are owed a refund, don’t expect to receive it right away. Past-due tax returns can only be filed with paper returns mailed directly to the IRS—not with the e-file option. To ensure you get credit for filing on time, use certified mail to send in your paper return. If you still don’t file by the three-year deadline, the IRS might file a substitute return for you. The IRS will send a, a proposal of what the government thinks you owe in taxes. From there, you will have 90 days to file the past-due return or file a petition in Tax Court to challenge the proposed amount of taxes you owe.

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