The IRS has set the deadline to claim a Recovery Rebate Credit on May 17. This will be the last chance to claim a 2020 tax refund payment. All the money that American taxpayers do not claim will be for the Treasury.
Not all States have the same number of unclaimed tax refunds for 2020. As a matter of fact, approximately, 938,800 Americans have not claimed a 2020 tax refund. But which states have the highest number of unclaimed refunds?
IRS INFORMS OF THE HIGHEST MEDIAN POTENTIAL REFUND AMOUNTS
The State where taxpayers could receive the highest tax refunds for 2020 is Pennsylvania. In fact, the median potential refund could be worth about $1,031. This is an important amount of money and surely you may not want to miss out on it.
The second place goes to New York said the IRS, with a median potential refund worth $1,029. Maryland has not reached such high figures but is not far either. The possible median payments are worth $991.
Other States that are in the top ten are Rhode Island ($986), New Hampshire ($982), Hawaii ($979), Connecticut ($978), Washington ($976), Michigan ($976), and Massachusetts ($975).
IRS UNVEILS STATES WITH THE MOST UNCLAIMED 2020 TAX REFUNDS
Texas and California are the 2 States where there are more taxpayers who have not claimed a 2020 tax refund. For example, there are about 93,400 unclaimed refunds in Texas and 88,200 in California.
Florida comes third with 53,200 said the IRS. New York also has an important number of unclaimed refunds. In total, there are about 51,400. Pennsylvania is sending the highest median potential refund and it is in fifth place in this case.
The IRS reminds taxpayers that they should file if they would like to claim a 2020 tax refund before May 17, 2024. Bear in mind that there is about $1 billion in unclaimed refunds. Claiming a stimulus check for the 2020 tax year is also possible, so do not miss out on it.