$1 Billion in Tax Refunds Remain Unclaimed as May 17 Filing Deadline Approaches

Taxpayers can use an online IRS tool to check whether they have unclaimed 2020 refunds.

The IRS building in Washington on Oct. 16, 2023. Madalina Vasiliu/The Epoch Times

The IRS is reminding taxpayers who have not filed their 2020 returns to do so quickly or risk losing out on unclaimed refunds.

Nearly 940,000 Americans have unclaimed refunds from the 2020 tax year worth an estimated $1 billion, the IRS said on March 25. The individuals face a May 17 deadline to submit their returns.