The IRS reminds taxpayers they may have money waiting for them. An estimated 1.3 million taxpayers didn’t file a 2017 Form 1040 federal income tax return and are due a refund.
Here are some things taxpayers should know about these unclaimed refunds:
- To collect the money, taxpayers must file their 2017 tax return with the IRS no later than this year’s tax deadline, Monday, May 17.
- When a taxpayer who is getting a refund does not file a return, the law gives them three years to claim that tax refund. If the taxpayer does not file a tax return within three years, the money goes back to the U.S. Treasury. For 2017 tax returns, the three-year window closes May 17, 2021.