IRS Issues Final Reminder for Nearly 1 Million Tax Refunds: 'Time Is Running Out'

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IRS Issues Final Reminder for Nearly 1 Million Tax Refunds: 'Time Is Running Out'
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had not yet claimed refunds from the 2020 tax year, totaling more than $1 billion. Overall, this translates to a national average median refund of $932 per person.However, the agency explained that this year marks the end of the three-year window people have to claim refunds owed to them—after which they return to the government.

"People faced extremely unusual situations during the pandemic, which may have led some people to forget about a potential refund on their 2020 tax returns," Werfel said in the statement."People may have just overlooked these, including students, part-time workers, and others. Some people may not realize they may be owed a refund. We encourage people to review their files and start gathering records now, so they don't run the risk of missing the May deadline.

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