IRS Refund Status: Time Running Out to Claim Thousands of Dollars

Approximately 1.5 million individuals are owed refunds for the 2019 tax year, and the deadline to file for these refunds is July 17.

The IRS refund status has issued a warning to taxpayers, stating that they may be entitled to receive substantial refunds of hundreds or even thousands of dollars

IRS Commissioner Danny Werfel emphasized the urgency, urging those who may have neglected to file their taxes during the pandemic to take prompt action before losing their final chance to secure potentially significant refunds. On average, IRS refund status unclaimed refunds amount to about $900 per taxpayer, but individuals with low or moderate incomes may be eligible for even more substantial refunds, potentially exceeding $6,500 if they qualify for the Earned Income Tax Credit. In total, IRS refund status over $1.4 billion is owed in refunds for the 2019 tax year.

Residents from all states are owed money, with substantial numbers of taxpayers in California, Texas, Florida, New York, Pennsylvania, and other states having unclaimed refunds. It is crucial for taxpayers to file their 2019 taxes in order to claim their refunds; otherwise, the money will become the property of the U.S. Treasury.

IRS refund status to file for the 2019 refund, taxpayers can gather missing documents from their employers, banks, or other entities that made payments to them in 2019

Additionally, they can request a tax transcript from the IRS refund status, which will provide the necessary information to complete the tax filing process for 2019. It is important to note that individuals who qualify for the Earned Income Tax Credit may be eligible for higher refunds. The IRS refund status income thresholds for this credit are as follows:

• $46,703 ($52,493 if married and filing jointly) for individuals with two qualifying children
• $15,570 ($21,370 if married and filing jointly) for individuals without qualifying children

For further details about IRS refund status, taxpayers can visit the official IRS website at irs.gov and take the necessary steps to claim their long-awaited refunds for the 2019 tax year.

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