What you should Know
- The Internal Revenue Service (IRS) announced that nearly $1.5 billion in refunds went unclaimed in tax year 2019 and taxpayers have little time to avoid losing that money.
- That’s because people who haven’t yet filed their 2019 tax returns have until July 17 to do so, the agency said.
- The average median refund is $893, and the IRS has done a special state-by-state calculation to show how many people may qualify for these refunds.
There’s still time to claim your tax refund for tax year 2019, if you haven’t already done so.
The Internal Revenue Service (IRS) announced that nearly $1.5 billion in refunds went unclaimed in tax year 2019 and taxpayers have little time to avoid losing that money. That’s because people who haven’t yet filed their 2019 tax returns have until July 17 to do so, the agency said.
The overall average refund for this year is $893, and the IRS has done a special state-by-state calculation to show how many people may qualify for these refunds.
Here’s what you need to know to file taxes for FY 2019:
How to file 2019 tax return
People should start early to make sure they have enough time to file for their 2019 refunds before the July 17 deadline. Here are some options:
- Request copies of key documents: Taxpayers who missed Forms W-2, 1098, 1099, or 5498 for the years 2019, 2020, or 2021 should request copies from their employer, bank, or other payor.
- Use Get Transcript Online at IRS.gov. Taxpayers who are unable to obtain the missing forms from their employer or other payer can request a free wage and income transcript on IRS.gov through the Get Transcript online tool. This is the quickest and easiest option for many taxpayers.
- Or request a transcript: Another option is for individuals to file Form 4506-T with the IRS to request a “Wages and Income Transcript.” A wage and income transcript shows data from information returns received by the IRS, such as Form W-2, 1099, 1098, Form 5498 and IRA contribution information. Taxpayers can use the information from the transcript to file their tax returns. But plan ahead: These written requests can take several weeks; People are encouraged to try other options first.
IRS Commissioner Danny Werfel said, “2019 tax returns were past due during the pandemic, and many people may have overlooked or forgotten about these refunds.” “We want taxpayers to claim these refunds, but time is running out. People have a July 17 deadline to file their returns. We advise taxpayers to start early to ensure that they may not miss.”
Under the law, taxpayers generally have three years to file and claim their tax refund. If they are not implemented within three years, the money becomes property of the US Treasury.
But for 2019 tax returns, people have more time than usual to file and claim their refunds. Usually, the normal filing deadline to claim an old refund is around the same time as the tax filing deadline, which in this case is April 18 this year. But the three-year window for 2019 has been postponed to July 17, 2023, due to the COVID-19 pandemic emergency.
The IRS estimates that the midpoint of potential unclaimed refunds for 2019 is $893. This means that half of the refunds are over $893 and half are under.
Other Benefits You May Lose If You Don’t File Your 2019 Tax Return
By not filing a tax return, individuals may lose more than a refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may qualify for the Earned Income Tax Credit (EITC). For 2019, the value of the credit was up to $6,557. The EITC helps individuals and households whose income is below certain limits in 2019. People who can qualify for the EITC in 2019 had below income:
- $50,162 ($55,952 if married filing jointly) who has three or more qualifying children.
- $46,703 ($52,493 if married filing jointly) for people with two qualifying children.
- $41,094 for those with a qualifying child ($46,884 if married filing jointly).
- $15,570 for individuals without qualifying children ($21,370 if married filing jointly).
The IRS reminds taxpayers seeking 2019 tax refunds that their checks may be withheld if they have not filed tax returns for 2020 and 2021. Must be used to offset unpaid child support or past due federal loans, such as student loans.
Current and prior year tax forms (such as tax year 2019 Forms 1040 and 1040-SR) and instructions are available on the Forms, Instructions and Publications page or by calling the toll-free number 800-TAX-FORMS (800-829-) . 3676).
Estimated number of people who may be owed a 2019 income tax refund by state by country
State Estimated Number of People Average Potential RefundTotal Potential Refund *Credits not includedNew York
81,600
$945
$86,826,200Nueva Jersey
40,500$924$42,035,900Connecticut
15,400
$934$16,198,400Pennsylvania56,000$924$4,468,700Massachusetts
35,700
$966$38,400,900 California
144,700
$856
$141,780,000Florida
89,300$893
$89,530,400Maryland31,400$897
$32,344,500Texas135,300$924
$142,235,200
