BELLINGHAM — Nearly a million people across the U.S. have unclaimed refunds from their 2020 taxes.
While taxpayers typically have three years to file overdue tax returns and still receive a refund if they miss the annual mid-April cut off, the IRS extended the deadline for 2020 tax returns to this May. In a news release, IRS Commissioner Danny Werfel said that this was done to give people who may have overlooked their taxes during the COVID-19 pandemic more time to file.
“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 stated. “People may have just overlooked these, including students, part-time workers and others. Some people may not realize they may be owed a refund.”
But even with the extension, the IRS estimated in late March that just over $1 billion in refunds from 2020 remain unclaimed ahead of the May 17 deadline. Refunds that aren’t claimed after the deadline go to the U.S. Treasury.