The IRS has 940,000 unclaimed tax refunds from 2020 that are about to expire

The IRS is warning taxpayers that they may be leaving more than $1 billion on the table. The federal tax collector said Monday, March 25, 2024, that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020. (Mark Lennihan/AP)

WASHINGTON — The IRS is warning taxpayers that they may be leaving more than $1 billion on the table.

The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide.