Time is Running Out to Claim More Than $1.3 Billion in Tax Return Money

In a day where every penny counts, you may want to see if the IRS has some money waiting for you.

The Internal Revenue Service says it has $1.3 billion in unclaimed refunds from 2017, and time to claim it is running out.

Upon hearing that news, I immediately checked to see if I was one of the 1.3 million people who are owed the money.

Turns out I'm not, but you may be.

According to a report from FOX 44 News, the refunds are from those who haven't filed their 2017 1040 federal income tax return. All totaled, the IRS says 1.3 million people are owed money.

IRS Commissioner Chuck Rettig issued a news release last month that said, “The IRS wants to help taxpayers who are due refunds but haven’t filed their 2017 tax returns yet. Time is quickly running out for these taxpayers. There’s only a three-year window to claim these refunds, and the window closes on May 17, we want to help people get these refunds, but they will need to quickly file a 2017 tax return.”

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May 17 is rapidly approaching, and not only do you need to file for past years by that date, but 2020 1040's should also be filed.

For those seeking help on their taxes, visit IRS.gov. There are easy to follow instructions on getting your taxes done, and you may qualify for a free return. IRS.gov also offers help in tracking down missing W-2's, 1098's, 1099's, and 5498's from any of the last three years, 2017-2020. You can also call 800-TAX-FORM (800-829-3676).

With $1.3 billion in unreturned money from 2017, now's a good time to see if you are owed some of that.