At Extreme Investor Network, we know the value of maximizing your financial opportunities. That’s why we want to make sure you’re aware of the $1 billion in unclaimed 2020 tax refunds that are waiting to be collected. This is a significant amount of money that could be in your pocket, but time is running out.
The deadline to file 2020 tax returns and claim your refund is May 17. This is a crucial deadline because there is a three-year expiration on refunds after each tax deadline. Once that time passes, you won’t be able to collect the money that is rightfully yours.
But it’s not just about getting the money you’re owed. The 2020 tax year also brought additional tax breaks and credits for certain filers, such as the recovery rebate credit for those who didn’t receive stimulus checks. Failing to file your return by May 17 means you could be missing out on even more money.
If you’re feeling overwhelmed about where to start with filing your 2020 returns, the IRS has tools to help simplify the process. You can log into your IRS online account to access your wage and income transcripts, which include important tax forms like W-2s, 1098s, 1099s, and 5498s. This will give you a roadmap of what information you need and whether you need to reach out to past employers.
At Extreme Investor Network, we believe in helping you make the most of your financial opportunities. Don’t let the deadline pass you by – take the time to file your 2020 tax returns and claim the refund you deserve. Be sure to start the process as soon as possible to ensure you have all the necessary information. The sooner you act, the sooner you can put that money to work for you.
