The Internal Revenue Service (IRS) estimates that it has nearly $1.4 billion in unclaimed income tax refunds due to about 1.2 million taxpayers who failed to file a 2015 Form 1040. The deadline to claim these funds is this year’s return filing deadline, April 15, 2019.
“We’re trying to connect over a million people with their share of $1.4 billion in potentially unclaimed refunds for 2015,” said IRS Commissioner Charles Rettig. “Students, part-time workers and many others may have overlooked filing for 2015. And there’s no penalty for filing a late return if you’re due a refund.”
However, there are some caveats to claiming a 2015 refund: if you have not filed a tax return for 2016 or 2017, the IRS may hold any refund due until those filings have also been completed. And if you owe any state or federal taxes, child support, or federal debts such as student loans, the refund may be applied to those balances.
Read the IRS press release here.
