IRS holds $1.5 billion in unclaimed tax refunds, deadline approaching.

1 min read
Source: KABC-TV
IRS holds $1.5 billion in unclaimed tax refunds, deadline approaching.
Photo: KABC-TV
TL;DR Summary

The IRS is trying to locate 1.5 million people who are owed $1.4 billion in unclaimed tax refunds from income tax year 2019. The deadline to submit a tax return and claim the refund is July 17, 2023. Filing after the April deadline usually incurs penalties, but the IRS extended the deadline for 2019 income taxes due to the pandemic. The average median refund for tax year 2019 was $893.

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