IRS says it has $1.5 billion in tax refunds waiting to be claimed

encouraged millions of people across the U.S. to submit a tax return to claim their refunds for tax year 2019, estimating that nearly 1.5 million people had yet to do so. Under the law, taxpayers typically have three years to file and claim their tax refunds. If they don't file within three years, the IRS said that money becomes the property of the U.S. Treasury.

Typically, the normal filing deadline to claim old refunds falls around the April tax deadline, which was April 18, 2023, for 2022 tax returns. But the three-year window for 2019 unfiled returns was postponed to July 17, 2023, due to the COVID-19 pandemic emergency. "Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit . For 2019, the credit was worth as much as $6,557," the IRS said in its announcement.

The IRS added how individuals seeking a 2019 tax refund may have their checks held if they have not filed tax returns for 2020 and 2021. The refund will also be applied to any amounts still owed to the IRS or a state tax agency. It could also be used to offset unpaid child support or past due federal debts, such as student loans.The IRS listed several ways people can still gather the information they need to file for 2019.

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