The IRS Wants Taxpayers to Claim $1.5 Billion in Unclaimed Refunds -- But There's Less Than 1 Week to Do It
In 2018, the average tax refund was a whopping $2,881. While not everyone gets back such a big amount, the majority of taxpayers do get refunds and this money can be used for important financial goals such as investing, paying down debt, or shoring up your emergency fund.
Unfortunately, some people have outstanding refunds but haven't actually gotten their money back yet. In fact, according to the IRS, there are $1.5 billion worth of unclaimed refunds from the 2016 tax year. And the bad news is, if that money isn't claimed by July 15, 2020, it's gone for good.
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Source Fool.com
