IRS: $1.5B in Unclaimed Refunds, Time Running Out
WASHINGTON, D.C. -- The Internal Revenue Service says unclaimed income tax refunds totaling almost $1.5 billion are available to many Americans.
There are about 1.5 million people who did not file taxes for 2018, who may be owed a refund.
In cases where a federal income tax return was not filed, the law gives most taxpayers a three-year window to claim a tax refund. If they do not file a tax return within three years, the money becomes the property of the U.S. Treasury.
For 2018 tax returns, the window closes in just a few days on April 18, 2022.
The IRS says in Minnesota there is an estimated 22,685 people who have not filed their 2018 taxes that could have a refund coming to them. The median potential refund in Minnesota is $771.
Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for the years 2018, 2019 or 2020 should request copies from their employer, bank, or other payers.