IRS owes money to 77 thousand New Yorkers: who can get them

According to tax service (IRS), each of more than 77 New Yorkers is eligible for payments on average of about $000 starting in 900, reports Silive.

Unclaimed income tax refunds totaling nearly $1,5 billion await the 1,5 million taxpayers nationwide who did not file a 2018 federal income tax return. But to claim that money, you need to act before the April 18 tax deadline, according to the Internal Revenue Service.

Among them 77 315 New Yorkerswho are owed an average of $896, i.e. a total of $79 available to New Yorkers.

On the subject: Less than a month left to file your tax returns: how and why you need to create an account on the IRS website

In cases where a federal income tax return has not been filed, the law gives most taxpayers a three-year window to file for a tax refund. If they do not file a tax return within three years, the money becomes the property of the US Treasury.

For tax returns 2018 window closes on 18 April. The law requires taxpayers to properly address, mail and verify that the tax return is stamped by that date.

The IRS notes that taxpayers seeking a 2018 tax refund may have their own due diligence if they did not file their 2019 and 2020 tax returns. And the refund will apply to any amounts still owed by the IRS or the state tax authority and can be used to offset unpaid child benefits or delinquent federal debts such as student loans.

And the IRS said many low- and middle-income workers may also be eligible for the Earned Income Tax Credit (EITC). For 2018, the loan amounted to $6. EITC provides assistance to individuals and families whose incomes do not reach a certain threshold.

Thresholds for 2018 were as follows:

• $49 ($194 if spouses apply jointly) for individuals with three or more eligible children;
• – $45 ($802 if spouses apply jointly) for individuals with two eligible children;
• $40 ($320 if spouses apply jointly) for individuals with one eligible child; And
• $15 ($270 if spouses apply jointly) for individuals without children.

Tax returns for 2018 must be filed at the IRS center listed on the last page of the current Form 1040 instructions.

Current and prior year tax forms (such as 2018 tax forms 1040, 1040-A, and 1040-EZ) and instructions are available on the page forms and publications IRS.gov or call 800-829-3676. However, taxpayers may file tax returns for 2019 and beyond.