Does the IRS have an earnings tax refund you’ll want to declare by Could 17? Verify now.
Sarah Tew/CNET
You probably have Could 17 circled in your calendar in your taxes this yr, that date might be doubly vital if the IRS has an unclaimed 2017 earnings tax refund of yours. You now have three days to assert refund cash the IRS has for 2017 earlier than it is turned over to the Division of the Treasury. The IRS estimates that 1.3 million taxpayers could have $1.3 billion value of unclaimed 2017 tax refunds. When you did not file a federal earnings tax return for 2017, you’ll want to file to get that refund.
With Tax Day moved to Could 17 this yr, the IRS is hip-deep in work, processing tax returns, sending weekly batches of stimulus checks and “plus-up” funds and making ready to ship as quickly as July the primary of the expanded baby tax credit score funds.
We’ll present you how one can see if the IRS has an earnings tax refund you’ll want to declare. For extra, this is how one can get again $16,000 in baby care bills, how one can save $50 in your web invoice, how one can see if your state has unclaimed cash it owes you and what you wish to learn about baby tax credit score funds. This story is regularly up to date.
When is the deadline to assert an older tax refund?
The IRS is required to carry on to unclaimed earnings tax refunds for 3 years. By regulation, if you don’t file for a refund after three years, the cash turns into the property of the US Treasury, and also you won’t be able to get it. For a 2017 earnings tax refund, you’ll want to declare by Tax Day — that is Could 17 this yr — earlier than it is gone.
How can I see if the IRS has an unclaimed tax refund for me?
The one strategy to know if the IRS is holding your refund is to file a return for the yr, the IRS stated. The company frequently estimates the greenback quantity of unreported tax returns however cannot decide if a person taxpayer is due a refund till they file a tax return. The The place’s My Refund instrument can not help both. It studies the refund standing of those that have already filed their taxes.
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How do I claim my income tax refund from the IRS?
To claim a refund for 2017, you need to submit your 2017 tax form, either online or through the mail. If you’re mailing it, the tax return needs to be postmarked by May 17. Note that you may need to file a 2018 and 2019 tax return too for the IRS to release your 2017 refund.
What if I’m missing documents I need to file my 2017 income tax return?
You can find a prior year’s tax forms on the IRS’ forms page. If you’re missing a W-2, 1098, 1099 or 5498 from 2017, the IRS recommends you request a copy from your employer or bank. You can also order a free wage and income transcript from the IRS and then use the information on the transcript to file your tax return.
The IRS could have a tax refund you need to claim by May 17.
Sarah Tew/CNET
Can an unclaimed tax refund be used to cover debt?
If you think you were due a refund from 2017 but you don’t receive one after you file, all or part of your refund may have been offset, or used to pay off past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support or other federal debts such as student loans.
For more information about your 2020 taxes, here’s how to claim missing stimulus money on your taxes and how to track your tax fund this year.
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