WASHINGTON — Thousands of people in Florida have unclaimed refund money from 2020, and the deadline to claim that money is quickly approaching.
The Internal Revenue Service said more than $1 billion in refunds across the United States from that tax year remains unclaimed. The average median refund nationwide is $932, the IRS said.
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For taxpayers in Florida, it’s $891.
“There’s money remaining on the table for hundreds of thousands of people who haven’t filed 2020 tax returns,” IRS Commissioner Danny Werfel said in a news release. “We want taxpayers to claim these refunds, but time is running out for people who may have overlooked or forgotten about these refunds. There’s a May 17 deadline to file these returns so taxpayers should start soon to make sure they don’t miss out.”
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Total potential refunds for 53,200 Floridians, excluding any credits, is $58,210,500. Action News Jax sister station WSB-TV reports that in Georgia, 36,400 people are eligible for returns averaging $900 each. Georgians are owed a total of $39,175,600 in unclaimed refunds.
Taxpayers typically have three years to file and claim tax refunds. For 2020 tax returns, people have been given more time to claim due to the COVID-19 pandemic.
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If taxpayers do not file and claim their tax refunds within the given time, the money will go back to the U.S. Treasury, according to the IRS.
“People faced extremely unusual situations during the pandemic, which may have led some people to forget about a potential refund on their 2020 tax returns,” Werfel said. “People may have just overlooked these, including students, part-time workers and others. Some people may not realize they may be owed a refund. We encourage people to review their files and start gathering records now, so they don’t run the risk of missing the May deadline.”
Current and prior year tax forms (such as the tax year 2020 Forms 1040 and 1040-SR) and instructions are available on the IRS.gov Forms & Instructions page or by calling toll-free 800-TAX-FORM (800-829-3676).
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