The Internal Revenue Service announced Monday that nearly 940,000 Americans have unclaimed refunds for the tax year 2020 – and the deadline to submit for a refund is quickly approaching.According to the IRS, an estimated $1 billion in refunds remain unclaimed, because people haven’t filed their 2020 tax returns yet. The average median refund is $932 for 2020.
RELATED: House approves Child Tax Credit expansion; here's what that means for you"People faced extremely unusual situations during the pandemic, which may have led some people to forget about a potential refund on their 2020 tax returns," Werfel continued. "People may have just overlooked these, including students, part-time workers and others. Some people may not realize they may be owed a refund.