REFUND STATUTE EXPIRING: DON’T MISS OUT!
If you have not filed your 2018 tax return and have a refund coming, time to claim that refund is running out!
The IRS estimates that more than 1.35 million taxpayers have not filed their 2018 tax returns with approximately $1.3 billion of unclaimed refunds available for those taxpayers. If you fall in this category, you need to act quickly because the return must be filed by May 17, 2022 to claim a refund for 2018. Otherwise, the money becomes the property of the U.S. Treasury.
People stand to lose more than a refund of taxes withheld or paid during 2018 by failing to file a return. Many people who have not filed for 2018 may qualify to claim the Earned Income Tax Credit (EITC). The EITC is a refundable credit that provides financial assistance to individuals and families with incomes below certain thresholds. In addition, taxpayers may also qualify for the refundable child and education credits.
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