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☆ May 17 is the last chance to claim your 2020 tax refund — the median payment is $932, IRS says
▼ + stars: | 2024-05-17 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

May 17 is the last chance to file 2020 returns and claim your refund — which could include missed pandemic relief, experts say. As of May 6, there was still an estimated $1 billion in unclaimed refunds from tax year 2020, and the median possible payment was $932, according to the IRS. But roughly 940,000 taxpayers could surrender their 2020 refund payment if they don't file by May 17, the agency explained in May. The 2020 tax deadline was postponed to May 17, 2021, amid the pandemic — and the three-year deadline to file 2020 returns and collect refunds is now upon us. "If you let if you let it slip, there's nothing anybody can do," said Bill Smith, national director of tax technical services at financial services firm CBIZ MHM.

Persons: John Karls, Bill Smith, CBIZ Organizations: Finance

☆ IRS reminder: Time to claim $1 billion in tax refunds from 2020 expires on May 17
▼ + stars: | 2024-05-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

There is $1 billion in unclaimed 2020 tax refunds up for grabs — but the last chance to file returns and collect the money is approaching. Nearly 940,000 taxpayers have until May 17 to file 2020 returns and claim their refund, the IRS said in a "final reminder" this week. The deadline is "terribly important" because there's a three-year refund expiration after each tax deadline, said certified public accountant John Karls, partner at accounting firm Armanino. "If you let if you let it slip, there's nothing anybody can do," said Bill Smith, national director of tax technical services at financial services firm CBIZ MHM. "You won't get your refund when the statute of limitations has run out."

Persons: —, John Karls, Roth, Bill Smith, CBIZ Organizations: Finance

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