More than $1.3 billion in unclaimed tax refunds from 2017 are waiting at the IRS, but they won’t be available much longer. Taxpayers generally have a three-year window to claim tax refunds, and for 2017 that window slams shut on May 17th. The IRS estimates that 1.3 million taxpayers are owed refunds, but they haven’t yet filed their Form 1040s for 2017. The midpoint for these refunds is $865. That is, half of unclaimed refunds are for more than $865, and half are for less. Refunds may “be applied to any amounts still owed to the IRS or a state tax agency and may be used to offset unpaid child support or past due federal debts, such as student loans,” the IRS stated. Call or visit our website for more information! www.mjscpa.com/
