The IRS owes Americans more than $ 1,3 billion in tax refunds: how to get money

The Internal Revenue Service (IRS) is holding more than $ 1,3 billion in unclaimed tax refunds for individuals who did not file a return in 2017 - money that would expire if those people do not receive it soon. Writes about it Fox Business.

According to the IRS, approximately 1,3 million taxpayers must file their 2017 tax return to receive a refund.

“These taxpayers are running out of time,” said IRS Commissioner Chuck Rettig. - There are only three years to claim a refund, and it closes on May 17th. We want to help people, but for that they will need to quickly file their 2017 tax return. ”

The IRS has pushed back its tax filing deadline to May 17 this year amid a slew of COVID-19-related policy changes included in President Joe Biden's plan to tackle the coronavirus.

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The department also postponed the deadline for filing an application for reimbursement of funds from the federal budget for 2017 until May 17.

Taxpayers have three years from the date they apply for a refund; if they do not file a return within three years, the money becomes the property of the US Department of the Treasury. Americans who want to claim a refund must file a return no later than May 17th.

Half of the refunds that have not yet been delivered are over $ 865, according to the IRS. However, the IRS has warned people that if they haven't filed a return in 2018 or 2019, they may not be eligible for 2017 reimbursement. Refunds can also be applied to cover certain federal taxpayer debts, including student loans or unpaid child support.