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Saturday, July 2, 2022

Tax Refund Deadline: Only 8 Days More To Claim Your Refund

You could miss out on your tax refund if you do not claim the same before the May 17 deadline. $1.3B unclaimed tax refunds from 2017 are still lying with the IRS and there are only 8 more days to go before the cutoff date.  

1.3M taxpayers are just 8 days away from missing out on unclaimed refunds from 2017. And if you fail to file for the same, the IRS will not extend the timeline to claim the same. The authorities are still busy sending out the third stimulus payments and the catch-up payments. The first round of the child tax credit check is also due in July 2021. To recover the amount due, you should immediately check if the IRS owes you a tax refund.

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You can know if you can get a refund only by filing your latest returns. The IRS tool, Where’s My Refund, will not be of any help, as it gives the status for people who have filed their returns already. You have to submit the tax form for 2017, either through mail or online. Postmark your mail by May 17 if you send it through the mail. You will have to file returns for 2018-19 to claim the refund.

Getting The Documents In Order For The Tax Refund

You can request your bank or employer for a copy of a 1098,1099, 5498, or W-2 from 2017. An IRS wage and income transcript can also be obtained. The information contained in the transcript can be used to file the returns.

If you do not receive a refund even if you are due the same from 2017, there is a possibility that the same was utilized to repay previous dues. It may include income tax, unemployment compensation debts, spousal and child support, or student loans.

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