IRS: $1.5 Billion in Tax Refunds Will Go to Treasury If They’re Unclaimed by July 15

In this March 22, 2013 file photo, the exterior of the Internal Revenue Service (IRS) building in Washington. Susan Walsh/AP Photo

The Internal Revenue Service (IRS) reminded taxpayers that 2020 is the last year to claim their 2016 refunds.

Some 1.4 million Americans are owed more than $1.5 billion in unclaimed refunds during that year. Typically, taxpayers have about three years to file the federal tax returns to claim a refund, or the money will go to the Treasury Department.