Time to claim $1B in tax refunds dwindles: A state-by-state breakdown
The IRS says 1 million people face a May 17 deadline to submit their tax returns for unclaimed refunds for the 2020 tax year. Collectively, the refunds are worth more than $1 billion.
The clock is ticking for Americans to file tax refunds for 2020 as the May 17 deadline nears.
About 1 million people failed to file, leaving refunds collectively worth more than $1 billion sitting with the Internal Revenue Service.
The median refund for 2020 is $932, with Texas, California, Florida and New York leading the states that have the largest number of taxpayers eligible for the money.
FOX Business, courtesy of the IRS, provides a list of the states with the likely cash refunds.
Estimates of individuals who may be due 2020 income tax refunds, per IRS data:
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FOX Business' Megan Henney contributed to this report.