In recent IRS notice 2020-23, the IRS is granting a delay in claiming 2016 tax refunds until July 15, 2020.
If you do not claim a refund in time, you lose it forever. So on April 15, 2020 if you are owed a refund for 2016 and do not file a tax return to receive it, you lose your money forever!
More time to file
Because of the coronavirus pandemic, the tax filing date for 2019 is moved from April 15 to July 15. What is now clear, is that with this filing date move, it also includes the statute of limitations to claim any unclaimed refunds for the 2016 tax year.
What to do now
If you did not file a tax return for 2016 and you believe you are owed money, you now have 90 more days to claim it. But don’t delay! The IRS is very strict on these dates. If you are even a day late, your money is lost forever.
While the IRS is granting this delay, it is not clear if states are following suit. So, if you have a state tax refund you need to understand their deadlines as well.
Last updated: 04/13/2020
The Covid-19 Tax Resource Portal (herein after referred to as "Site") is made available as a service to our clients and others for informational purposes only. These materials and information should not be considered as, or a substitute for, accounting, tax or financial advice. While it is hoped the materials provided here are helpful as background material, it is not warranted either expressly or implied as accurate or complete. You should refrain in taking any action based upon the information provided here until you have received proper counsel.
In addition, you understand that any links to any other web site or services does not constitute endorsement of or warranty of any service, product or information provided on their site(s). These links are provided for convenience only.
While our intent is to make transmissions to and from this web site secure, it is understood that no warranty of security can be made and that unforeseen security breaches by "hackers" is a possibility, however slight.
Reproduction of part or all of the contents on this site in any form is prohibited other than for individual use only. All content on this site is copyright protected and/or trademarked as appropriate and may not be copied, duplicated or altered in any way.
In no event shall Feldmann Accurant, its affiliates or suppliers of any content on this site be liable for any indirect, incidental, special, punitive damages or consequential damages of any kind, or any damages whatsoever arising out of or related to your use of the Site, the content and other information obtained therein.
© 2020 . All Rights Reserved.