The Internal Revenue Service (IRS) announced that around $1.5 billion in 2019 tax refunds remain unclaimed nationwide, with almost $7 million in tax refunds unclaimed in Idaho alone. Taxpayers have until July 17 to claim their money, after which any unclaimed funds will become the property of the United States Treasury.
Idahoans are encouraged to claim the unclaimed tax refund. (Photo: Antiques)
$7 Million in Tax Refunds Remained Unclaim in Idaho
The pandemic has been cited as one reason why so many people have overlooked or forgotten about their tax refunds. Normally, taxpayers have three years to file and claim their tax refunds, but due to COVID-19, an extra year was granted.
The IRS estimates that 7,600 Idahoans are due 2019 income tax refunds totaling $6,996,000, with an average of $758 per person. Students, part-time workers, and those with low income are among those who frequently overlook filing a tax return and miss out on tax refunds, according to a report published in Yahoo News.
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2019 Refunds are Waiting to be Claimed
In a published article in AOL, taxpayers who have a 2019 refund waiting for them must have filed their 2020 and 2021 tax returns to be eligible to collect them. The refund will also be applied to outstanding amounts owed to the IRS, state tax agency, unpaid child support, or past-due federal debts.
People who haven’t filed their 2019 tax returns can still do so by the July 17 deadline. They can request copies of tax forms, such as Forms W-2, 1098, and 1099, for previous years from their employers. Additionally, the IRS recommends using the Get Transcript Online tool, which provides transcripts of past tax returns and wage and income statements, as a free service.
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