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Time Running Out to Claim Tax Year 2020 Refunds

The Internal Revenue Service estimates that nearly 1.5 million people across the nation have unclaimed refunds for tax year 2020 but face a May 17, 2024 deadline to submit their tax return.

Under the law, taxpayers usually have three years to file and claim their tax refunds. If they don't file within three years, the money becomes the property of the U.S. Treasury.

But for 2020 tax returns, people have more time than usual to file to claim their refunds. Usually, the normal filing deadline to claim old refunds falls around the April tax deadline, which is April 18, 2024 year for 2023 tax returns. But the three-year window for 2020 unfiled returns was postponed to May 17, 2024, due to the COVID-19 pandemic emergency and all the tax changes it caused.

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