$1.5 Billion Available in Unclaimed Refunds from 2018

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Apr 04, 2022, 09:05 ET

Jackson Hewitt reminds taxpayers they must claim 2018 refunds before April 18, 2022

JERSEY CITY, N.J., April 4, 2022 /PRNewswire/ -- Taxpayers who haven't filed a 2018 federal tax return have until April 18, 2022, to claim any money they are due from that tax year. According to the IRS, there are an estimated 1.5 million taxpayers who are owed a total of $1.5 billion in unclaimed refunds for tax year 2018. The IRS estimates that the midpoint for the potential refunds for 2018 is $813; meaning that half of the refunds are more than $813. Taxpayers who want to claim any money they might be owed should schedule an appointment with Jackson Hewitt Tax Service® for assistance in filing their tax return.

The IRS has a three-year window for filing a federal tax return and claiming a refund, which means this year is the last year to claim refunds for tax year 2018. Jackson Hewitt is reminding taxpayers that these unclaimed refunds are only for those who haven't filed their 2018 federal tax return. Some states assess late filing penalties, even if the taxpayer is due a federal refund.

"Taxpayers from all 50 states who are potentially owed refunds from 2018, or even 2019 and 2020, but didn't file because they didn't meet the minimum income requirement, there is a good chance that money was withheld in their paychecks and they may be eligible for a refundable credit such as Earned Income Credit and Child Tax Credit which may be available to them as a refund," said Mark Steber, Chief Tax Information Officer at Jackson Hewitt. "Taxes can be very confusing and there are a variety of reasons some taxpayers don't file their tax returns, it's best to work with a Tax Pro to understand how to file for past-due returns and to maximize their refund possibilities."

Taxpayers who are missing critical income information, like Forms W-2, 1098, 1099, or 5498 for tax years 2018, 2019, or 2020 should request copies from their employers, banks, and other payers. Those who are unable to receive the paperwork can order a free wage and income transcript from the IRS using their IRS Taxpayer Online Account; which can be set up at any time using ID.me through irs.gov. Jackson Hewitt Tax Pros are available for additional guidance in the process.

Visit jacksonhewitt.com for more information and to locate an office.

About Jackson Hewitt Tax Service Inc.

Jackson Hewitt Tax Service Inc. is an innovator in the tax industry, with a mission to provide its hard-working clients access to simple, low-cost solutions to manage their taxes and tax refunds. Jackson Hewitt is devoted to helping clients get ahead and stands behind its work with its Maximum Refund Guarantee and Lifetime Accuracy Guarantee® (restrictions apply, see Jackson Hewitt's website for more details). Jackson Hewitt has more than 5,500 franchise and company-owned locations nationwide, including nearly 3,000 in Walmart stores as well as online tax prep services, making it easy and convenient for clients to file their taxes. For more information about products, services, and offers, or to locate a Jackson Hewitt office, visit www.jacksonhewitt.com or call 1 (800) 234-1040.

SOURCE Jackson Hewitt Tax Service Inc.