Deadline Looms for Americans to Claim COVID Tax Refunds
Time is running short for eligible Americans to file for COVID-related tax refunds before the IRS deadline expires.
Americans who missed out on COVID-era tax refunds are running out of time to claim money the IRS may still owe them, according to a Yahoo Finance report. The federal government issued a range of pandemic-era tax credits and relief provisions, and taxpayers who failed to file or who underreported eligible credits during those years may still be entitled to a refund — but only if they act before the window closes.
The IRS generally allows taxpayers a three-year window to file an amended or late return and still collect a refund. That statutory deadline means returns tied to pandemic-year filings are beginning to expire, leaving eligible Americans with a shrinking opportunity to recover funds they may not have known were available to them.
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Tax experts broadly advise that anyone who did not file a return during the COVID years, or who believes they may have missed credits such as the Recovery Rebate Credit tied to stimulus payments, should consult a tax professional immediately. Filing sooner rather than later is critical, as missing the cutoff means forfeiting any potential refund permanently — the IRS will not issue payments on expired claims regardless of eligibility.
The stakes are meaningful for lower- and middle-income households in particular, since pandemic relief provisions were specifically designed to benefit those income brackets. Refunds tied to missed credits can run into hundreds or even thousands of dollars per household, making the filing effort well worth the time for those who qualify.
Continue reading at Yahoo Finance.
