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    $1 billion in tax refunds is sitting unclaimed: see if part of it is yours

    By Stephanie Raymond,

    2024-05-10

    https://img.particlenews.com/image.php?url=2Rwl9z_0sxAWFS700

    The IRS says one million people could be leaving money on the table, and there's only one week left to claim your piece of the $1 billion pie.

    The deadline to receive a tax return for 2020 is coming up and the IRS estimates 1 million people who didn't file yet may be eligible for a refund.

    Caroline Chen, professor of tax at San Jose State's College of Business, told KCBS Radio the filing deadline was pushed back in 2020 and many who typically would have been entitled to a refund simply didn't file.

    "2020 and then 2021, we're really still in the throes of the pandemic," she said.

    There's typically a three-year statute of limitations on refunds, but for 2020 tax returns, people have a little more time than usual to file their claim for refunds. The 2020 filing deadline was pushed to May 17, due to COVID-19, making the three-year window deadline for 2020 unfiled returns May 17, 2024.

    Most people will be able to file without penalty.

    "The IRS is very clear. If you are due a refund, it will not penalize you," said Chen. "If you file for your 2020 tax year  now and you owe the IRS money, then it is likely that you will have a penalty."

    After the May 17 deadline, the refund statute generally prevents the issuance of a refund check and the application of any credits, including overpayments of estimated taxes or withholding amounts, to other tax years that are underpaid.

    The IRS estimates more than $1 billion in refunds remain unclaimed because people haven't filed their 2020 tax returns yet. For individuals who have not filed a federal income a tax return for 2020, the IRS offers tools and resources on IRS.gov .

    The state-by-state list below shows how many people are potentially eligible for these refunds, and the toal potential refund amount in each state.

    Alabama -- 15,200 people -- $16.8 million
    Alaska -- 3,700 people -- $4.3 million
    Arizona -- 25,400 people -- $26.9 million
    Arkansas -- 8,700 people -- $9.3 million
    California -- 88,200 people -- $94.2 million
    Colorado -- 18,500 people -- $20.1 million
    Connecticut -- 9,800 people -- $11.3 million
    Delaware -- 3,600 people -- $4.1 million
    District of Columbia -- 2,900 people -- $3.5 million
    Florida -- 53,200 people -- $58.2 million
    Georgia -- 36,400 people -- $39.1 million
    Hawaii -- 5,200 people -- $5.9 million
    Idaho -- 4,500 people -- $4.3 million
    Illinois -- 36,200 people -- $40.6 million
    Indiana -- 19,200 people -- $20.8 million
    Iowa -- 9,600 people -- $10.6 million
    Kansas -- 8,700 people -- $9.2 million
    Kentucky -- 10,600 people -- $11.2 million
    Louisiana -- 15,100 people -- $17.3 million
    Maine -- 3,800 $923 people -- $4 million
    Maryland -- 22,200 people -- $26.3 million
    Massachusetts -- 21,800 people -- $25 million
    Michigan -- 34,900 people -- $38.2 million
    Minnesota -- 13,500 people -- $14 million
    Mississippi -- 8,100 people -- $8.6 million
    Missouri -- 19,500 people -- $20.8 million
    Montana -- 3,400 people -- $3.6 million
    Nebraska -- 4,700 people -- $5 million
    Nevada -- 10,200 people -- $11.1 million
    New Hampshire -- 4,200 people -- $4.9 million
    New Jersey -- 24,400 people -- $27.4 million
    New Mexico -- 6,500 people -- $7 million
    New York -- 51,400 people -- $60.8 million
    North Carolina -- 27,500 people -- $29.3 million
    North Dakota -- 2,200 people -- $2.4 million
    Ohio -- 31,400 people -- $32.9 million
    Oklahoma -- 14,300 people -- $15.5 million
    Oregon -- 15,300 people -- $15.8 million
    Pennsylvania -- 38,600 people -- $43.4 million
    Rhode Island -- 2,600 people -- $2.9 million
    South Carolina -- 11,900 people -- $12.5 million
    South Dakota -- 2,200 people -- $2.3 million
    Tennessee -- 16,800 people -- $18 million
    Texas -- 93,400 people -- $107.1 million
    Utah -- 7,800 people -- $8.1 million
    Vermont -- 1,700 people -- $1.8 million
    Virginia -- 25,900 people -- $28.9 million
    Washington -- 26,200 people -- $31.1 million
    West Virginia -- 3,800 people -- $4.1 million0
    Wisconsin -- 11,800 people -- $12.1 million
    Wyoming -- 2,100 people -- $2.4 million

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