The IRS has reported that $32 million in tax refunds from 2019 remain unclaimed by over 31,000 Indiana taxpayers. The COVID-19 pandemic disrupted tax filing in March 2020, causing many individuals to postpone their 2019 returns. According to the law, taxpayers typically have a three-year window to file and claim their refunds. Failure to do so within this timeframe results in the funds becoming the property of the U.S. Treasury.
To secure their refunds, taxpayers in Indiana must file by the July 17 deadline. On average, these refunds amount to $916. If you are uncertain about whether you filed your 2019 return, you can verify by checking your IRS account or consulting with your tax preparer. The IRS also revealed that nationwide, approximately 1.5 million individuals still need to submit their tax returns for the 2019 tax year to claim their refunds by the July 17 deadline.
IRS emphasized urgency for over a million individuals to claim their 2019 tax refunds before time runs out
IRS Commissioner Danny Werfel emphasized the urgency for over a million individuals to claim their 2019 tax refunds before time runs out. He acknowledged that the pandemic may have caused many people to overlook filing their 2019 tax returns and expressed the IRS’s commitment to ensuring individuals receive their refunds within the designated window. To facilitate this, the IRS offers various avenues of assistance.
In response to the COVID-19 pandemic emergency, the three-year window for unfiled 2019 returns was extended until July 17, 2023. Taxpayers are reminded that their 2019 refund checks may be withheld if they have not filed their tax returns for 2020 and 2021.To access current and prior-year tax forms, including Forms 1040 and 1040-SR for the 2019 tax year, instructions can be found online on the IRS Forms, Instructions, and Publications page or by calling the toll-free number 800-TAX-FORM (800-829-3676).
Here are some helpful tips provided by the IRS
Request copies of essential documents: Taxpayers who are missing Forms W-2, 1098, 1099, or 5498 for the years 2019, 2020, or 2021 can reach out to their employer, bank, or other payers to request copies of these forms. Utilize Get Transcript Online at IRS.gov: If taxpayers are unable to obtain the missing forms from their employer or other payers, they can access the Get Transcript Online tool on IRS.gov. By using this tool, individuals can order a free wage and income transcript, which is often the quickest and easiest way to obtain the required information.
File Form 4506-T to request a transcript: Another option available to taxpayers is to submit Form 4506-T, Request for Transcript of Tax Return, to the IRS. This form allows individuals to request a “wage and income transcript” that includes data from information returns received by the IRS, such as Forms W-2, 1099, 1098, Form 5498, and IRA contribution information. It’s important to plan ahead as written requests can take several weeks to process. Therefore, it is strongly recommended to explore the other options mentioned first. By following these guidelines, taxpayers can obtain the necessary documents to complete their tax return filings.