IRS HAS 2018 REFUND MONEY AVAILABLE STILL
April 16, 2022 - Douglas Myser
IRS has 2018 refund money available still. In IRS Revenue Bulletin IR-2022-66, the IRS announced that is has nearly $1.5 billion in refunds for people who have not filed a 2018 tax return. Those individuals have until this years filing date, April 17th, 2022, to file, if they want to claim their portion of that money, the amount of refund due to them. Unclaimed income tax refunds totaling almost $1.5 billion may be waiting for an estimated 1.5 million taxpayers who did not file a 2018 Form 1040 federal IRS income tax return, but people must act before the April tax deadline, according to the IRS. "The IRS wants to help people who are due refunds but haven't file their tax returns for 2018 yet," said IRS Commissioner Chuck Rettig. "But people need to act quickly. By law, there's only a three year window to claim these refunds, which closes with this year's April tax deadline." IRS has 2018 refund money available still.
The IRS estimates the midpoint for the potential refunds for 2018 to be $813--that is, half of the refunds are more than $813 and half are less. In cases where a federal income tax return was not filed, the law provides most taxpayers with a three year window of opportunity to claim a tax refund. If they do not file a tax return within the three years, the money becomes the property of the U.S. Treasury. For 2018 tax returns, the window closes of April 18th, 2022. Taxpayers living in Maine and Massachusetts have until April 19, 2022. The law requires taxpayers to properly address, mail and ensure the tax return is postmarked by that date.
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