You wouldn’t think that anyone would forget to collect a tax refund, but it happens. Typically, taxpayers have three years to file and claim their tax returns. However, because the 2020 tax season coincided with the beginning of the COVID-19 pandemic, the filing deadline for 2019 earnings has been extended until July 17, 2023. Anyone with unclaimed tax refund money from their 2019 earnings stands to lose this cash if they don't file their return by this fast-approaching date.
MoneyGeek analyzed 2019 unclaimed tax refund data from the Internal Revenue Service (IRS) and estimated the average amount of unclaimed tax cash per affected resident in every state. We found that while the average resident in some states could gain more from filing their taxes, Americans across the board are sitting on significant refunds.