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    IRS: $1 Billion in Unclaimed Tax Refunds, File Deadline May


    The IRS is reminding over one million Americans who have yet to file their 2020 tax returns that they have less than two weeks left to claim a total of $1 billion in unclaimed refunds. The deadline is May 17.

    According to an IRS news release this week, Americans have “a little more time than usual” to file their refund claim for 2020 tax returns because of the pandemic. The deadline usually falls around tax day on April 15 three years after returns are due.

    “We want taxpayers to claim these refunds,” said IRS commissioner Danny Werfel in an earlier announcement.

    Related: Filing Your Taxes Is About to Get Cheaper in 13 States. Here’s Who’s Eligible.

    The midpoint refund amount that an individual filer can receive for 2020 is $932, per the IRS.

    The IRS has free resources available to help with the tax filing process. The agency introduced a free tax prep software this year called Direct File and piloted it in 12 states. As of April 21, the Direct File pilot is closed.

    Americans who filed their taxes this year from January through early April received more than $200 billion in refunds, with the average refund being $3,011 — up from the $2,878 average last year. New York and Pennsylvania have the highest refund midpoints.

    Here are the top five states with the most people who haven’t filed their 2020 tax returns, along with the midpoint and total refunds they could claim, according to the IRS.

    Related: Here’s How Much Mark Cuban Is ‘Proud’ to Pay in Taxes This Year

    1. Texas

    Estimated number of people who are due a 2020 income tax refund: 93,400

    Median potential refund: $960

    Total potential refund: $107,130,200

    2. California

    Estimated number of people who are due a 2020 income tax refund: 88,200

    Median potential refund: $835

    Total potential refund: $94,226,300

    3. Florida

    Estimated number of people who are due a 2020 income tax refund: 53,200

    Median potential refund: $891

    Total potential refund: $58,210,500

    Related: Walgreens Boots Alliance Gets Bill for $2.7 Billion From the IRS After Tax Audit

    4. New York

    Estimated number of people who are due a 2020 income tax refund: 51,400

    Median potential refund: $1,029

    Total potential refund: $60,837,400

    5. Pennsylvania

    Estimated number of people who are due a 2020 income tax refund: 38,600

    Median potential refund: $1,031

    Total potential refund: $43,412,900



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