Attention all, you have until Monday to claim any tax return for the tax year 2019

Attention all taxpayers! If you filed your tax return for the year 2019 but neglected to claim your refund, time is running out. The Internal Revenue Service (IRS) has announced that taxpayers have until this Monday to claim a staggering $1.5 billion in unclaimed refunds for the 2019 tax year. This presents a valuable opportunity for individuals who may have missed out on their rightful refunds. In this article, we will explore the details of this announcement and provide guidance on how to ensure you receive the refund you deserve.

Background

Each year, many taxpayers fail to claim their tax refunds for various reasons. In some cases, individuals may not have filed their tax returns at all, assuming they did not owe any taxes. However, they may have actually been eligible for a refund due to overpayment or tax credits. This unclaimed money rightfully belongs to the taxpayers who failed to claim it, and the IRS provides a window of opportunity for them to rectify this oversight.

$1.5 Billion in Unclaimed Refunds

According to the IRS, approximately 1.4 million taxpayers have until Monday to submit their 2019 tax returns and claim their unclaimed refunds. The average amount owed per taxpayer is estimated to be around $1,000, making the total unclaimed amount a staggering $1.5 billion. By not claiming these refunds, taxpayers essentially donate this substantial sum of money to the U.S. government.

Deadline and Eligibility

The deadline to claim the 2019 refunds is Monday, which provides taxpayers with a limited window of opportunity to act. To be eligible, individuals must file their 2019 tax returns by the deadline. Those who miss the deadline will not be able to claim their refunds for that year.

It's important to note that while there is no penalty for filing a late tax return if you are owed a refund, there is a three-year statute of limitations for claiming refunds. This means that if you do not claim your 2019 refund by Monday, you will lose the right to receive that money permanently.

How to Claim Your Refund

To claim your 2019 refund, you will need to file a tax return for that year. If you have not already done so, gather your relevant tax documents, such as W-2s, 1099s, and any other income and deduction information. You can use tax preparation software, consult a tax professional, or manually complete the required forms to file your return.

The IRS provides various resources and tools on its website (www.irs.gov) to assist taxpayers in filing their returns accurately. Additionally, the website offers free filing options for eligible taxpayers with incomes below a certain threshold.

Once your 2019 tax return is complete, you can submit it to the IRS electronically or by mail. Make sure to double-check your return for accuracy, as errors may cause delays or complications in processing your refund.

Taxpayers who failed to claim their 2019 refunds have until Monday to rectify this oversight. With a total of $1.5 billion in unclaimed refunds up for grabs, it's crucial for eligible individuals to file their 2019 tax returns before the deadline. Failing to claim this money means allowing it to be absorbed into the U.S. government's coffers indefinitely. If you believe you might be owed a refund for the 2019 tax year, take immediate action, gather the necessary documentation, and file your tax return without delay. Don't miss this opportunity to claim what is rightfully yours.