IRS Issues Urgent Call to Claim $1 Billion in Unclaimed 2020 Tax Refunds

With the May 17 deadline looming, nearly a million Americans risk losing out on substantial tax refunds from 2020.

Nearly 940,000 taxpayers have until May 17 to file their 2020 tax returns and claim refunds, with the median refund estimated at $932.
Eligible taxpayers could also claim the Earned Income Tax Credit and COVID-era Recovery Rebate Credit, potentially increasing their total refund.
The IRS has extended tools and assistance to help taxpayers retrieve necessary documents and file their returns on time.
Unclaimed funds will revert to the U.S. Treasury if not claimed by the deadline, emphasizing the urgency of meeting the filing requirement.
Taxpayers in California and Texas are among those with the highest amounts of unclaimed refunds, highlighting regional impacts of the unclaimed funds.