The IRS has $1.5 billion in unclaimed refunds. But April 18 is the last day to claim the money.

The IRS said it has nearly $1.5billion in unclaimed tax refunds – and the tax agency is urging people to take action by April 18 to claim all the money owed to them . Unclaimed refunds come from about 1.5 million taxpayers who failed to file taxes in 2018, the agency said. Because there is … Read more

Stimulus checks for inflation: Here are the states planning to send cash to residents

About a dozen states are offering to send tax refund checks to their residents to offset the highest inflation in four decades, with lawmakers on both sides of the aisle indicating that high gas prices and foodstuffs motivate their actions. Among them is Georgia Governor Brian Kemp, a Republican, who on Wednesday signed legislation to … Read more

Tight hiring market could affect tax season as IRS looks for help

Between unprocessed returns, unanswered correspondence and other actions, the IRS has millions of items stacked up on its to-do list – and when the agency tried to hire 5,000 more people for the tax season now underway, fewer than 200 people applied. Taxpayer Advocate Erin Collins illustrated the depth of the agency’s challenge Tuesday before … Read more

2022 tax refund: Why the IRS might send you a smaller refund

Getting a tax refund is a highly anticipated event, with 3 out of 4 taxpayers typically receiving a check from the IRS after filing their tax return. But this year, tax experts warn some people may receive a smaller-than-normal check. The biggest issue that could impact tax refunds is the enhanced child tax credit, tax … Read more