Individual taxpayer – You have until July 17th, 2023 to claim your 2019 tax refund.

Under the law, you normally had until April 18, 2022 to file and claim your 2019 tax refunds. But because of the Covid-19 pandemic emergency, the April 18, 2022 deadline was postponed to July 17, 2023. The team at Aimlon CPA P.C. encourages you to file your 2019 U.S. individual income tax return if you haven’t.

The 2019 tax return was due in 2020. However, because of the Covid-19 outbreak in 2020, many of you may have overlooked filing a 2019 tax return. It is believed that as many as 1.5 million of you haven’t submitted your 2019 tax return to the Internal Revenue Service (IRS).

WHAT IF YOU’RE MISSING SOME OF YOUR 2019 TAX DOCUMENTS

You should gather the information that you need to file your 2019 tax return. If you’re missing any documents, you have several options to get them:

• Forms w-2 for the years 2019, 2020 or 2021: you can request a copy from your employer.
• Forms 1098, 1099 or 5498 for the years 2019, 2020 or 2021: you can request a copy from your bank, lender, health benefits administrator or other payers.

If you are unable to get a copy of your w-2 or Forms 1098, 1099 or 5498 you may:

• Order a free wage and income transcript at IRS.gov. You should use the Get Transcript Online to place your order.
• Request a wage and income transcript to the IRS. If you can’t get your free wage and income transcript online, you should file Form 4506-T, Request for Transcript of Tax Return with the IRS. If you’d like to use this option, you should plan ahead because it may take weeks before the IRS processes your request.

WHAT TO EXPECT ONCE THE IRS PROCESSES YOUR TAX RETURN

Depending on your tax situation, you may get a refund when you file your 2019 tax return. Individual taxpayers who have already filed their 2019 tax return got on average a refund of $893.

The IRS estimates that it owes almost $1.5 billion in refunds to people like you who haven’t filed their 2019 tax return. In addition, if you’re a low-income worker or moderate-income worker, you may even get as much as $6,557 of Earned Income Tax Credit (EITC) refund.

Note: you may qualify for the EITC in 2019 if you earned less than

• $50,162 if you’re single with 3 or more qualifying children.
• $55,952 if you’re married filing jointly with 3 or more qualifying children.
• $46,703 if you’re single with two qualifying children.
• $52,493 if you’re married filing jointly with two qualifying children.
• $41,094 if you’re single with one qualifying child.
• $46,884 if you’re married filing jointly with one qualifying child.
• $15,570 if you’re single with no qualifying child.
• $21,370 if you’re married filing jointly with no qualifying child.

What if you were owed a refund but have debt

Several situations may arise:

• If you haven’t filed your 2020 and 2021 tax returns and are owed a refund on the 2019 tax return, the IRS may hold your refunds check.
• If you owe money to your state tax agency or to the IRS and are owed a refund on the 2019 tax return, it may be used to offset this tax debt.
• If you have past due federal debts such as student loans and are owed a refund on your 2019 tax return, it may be used to offset them.
• If you have unpaid child support and are owed a refund on your 2019 tax return, it may be used to offset the unpaid child support.

What happens if you were owed a refund and don’t file

If you were owed a refund and don’t file within three years, the money becomes the property of the U.S. Department of the Treasury.