Over $1 Billion of Tax Refunds Left Unclaimed from 2020 - File Your Tax Returns ASAP!

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  • Опубліковано 26 бер 2024
  • The IRS estimates that over $1 billion of unclaimed federal tax refunds exist from the 2020 tax year. The 2020 Form 1040 was originally due on May 17, 2021.
    Under the three-year statute of limitations for refund claims, this gives taxpayers until May 17, 2024, to file a 2020 Form 1040. Otherwise, the tax refund claim is barred, and the U.S. treasury will keep your money.
    Refunds are estimated by measuring how much federal withholding taxes, estimated tax payments, and extension payments are on file with the IRS. The IRS also estimates that many taxpayers are eligible for the Earned Income Credit (EIC) and Child Tax Credit (CTC) which would increase their refunds as well.
    For the IRS article:
    www.irs.gov/newsroom/time-run...
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    DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
    #Form1040 #TaxRefund #TaxRefund2023

КОМЕНТАРІ • 2

  • @caakshaypatil3764
    @caakshaypatil3764 3 місяці тому

    Back to back videos, you are rocking man! Thank you

  • @SheilaCannon-zn2zj
    @SheilaCannon-zn2zj 3 місяці тому

    Aside child tax credit what other credits are eligible for sole proprietorship (Farmer) to claim