NEW YORK (PIX11) – There are roughly $1 billion in unclaimed refunds for the 2020 tax year, and New Yorkers account for almost $61 million of those funds, according to the IRS.
Nearly 940,000 people across the United States have not claimed their tax refund for the 2020 tax year, and the deadline to do so is approaching.
“There’s money remaining on the table for hundreds of thousands of people who haven’t filed 2020 tax returns,” said IRS Commissioner Danny Werfel. “We want taxpayers to claim these refunds, but time is running out for people who may have overlooked or forgotten about these refunds. There’s a May 17 deadline to file these returns, so taxpayers should start soon to make sure they don’t miss out.”
The average median refund for the 2020 tax year is $932, according to the IRS.
Taxpayers usually only have three years to file and claim tax refunds, but the 2020 tax year was different due to the COVID-19 pandemic. By not filing a tax return, people stand to lose more than just their refund. Many low- and moderate-income workers may be eligible for the Earned Income Credit. The EITC was worth as much as $6,660 for taxpayers with qualifying children, officials said.
Need to file a 2020 tax return? Here are your options:
- Request copies of key documents: Taxpayers who are missing tax forms such as W-2s, 1098s, and 1099s can request copies from their employer or bank.
- Use Get Transcript Online at IRS.gov: Taxpayers who are unable to obtain missing tax forms can order a free wage and income transcript at IRS.gov using the Get Transcript Online option. This is the quickest and easiest choice, officials said.
- Request a transcript for earned wages: Taxpayers can file Form 4506-T. This is a wage and income transcript that shows data from information received by the IRS, such as data usually found on W-2s, 1098s, and 1099s. Taxpayers can use the information to file their tax returns. However, officials warn that these written requests can take several weeks.
Unclaimed tax refunds in the tri-state area:
| State | Individuals who have not filed | Median Potential Refund | Total Potential Refunds |
| Connecticut | 9,800 | $978 | $11,343,600 |
| New Jersey | 24,400 | $920 | $27,408,300 |
| New York | 51,400 | $1,029 | $60,837,400 |
Matthew Euzarraga is a multimedia journalist from El Paso, Texas. He has covered local news and LGBTQIA topics in the New York City Metro area since 2021. He joined the PIX11 Digital team in 2023. You can see more of his work here.
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