Time’s running out for Idahoans to claim COVID-era $4.4m tax refunds. How to get yours

Idahoans have just a handful of days left to get their share of $4.4 million in unclaimed tax refunds, according to the IRS.

The IRS says that approximately 4,500 Idahoans have yet to file their 2020 federal tax returns and claim any refunds they’re owed. They also note that the average refund for those with unclaimed funds is $761 per person.

Under federal law, taxpayers have up to three years to file and claim their tax refunds. For 2020 tax returns, the latest date to do so is May 17. After that date, any unclaimed funds will be added to the United States Treasury.

“There’s money remaining on the table for hundreds of thousands of people who haven’t filed 2020 tax returns,” IRS Commissioner Danny Werfel stated in a news release. “We want taxpayers to claim these refunds, but time is running out for people who may have overlooked or forgotten about these refunds.”

How to get your 2020 Idaho refund

To request an unclaimed refund, Idahoans who haven’t filed a 2020 tax return must first do so. Although 2020 is four years ago, and gathering the necessary information may seem arduous, it’s not impossible. The IRS offers some options below:

Request copies of key documents: Taxpayers missing Forms W-2, 1098, 1099 or 5498 for 2020, 2021 or 2022 can request new copies from their employer or bank.

Use Get Transcript Online: Taxpayers who cannot get the above documents from their bank or employer can order a free wage and income transcript at IRS.gov using the Get Transcript Online tool. This can often be quicker than waiting to hear from your bank or employer.

Request a transcript: If none of the above methods are available, taxpayers can file a Form 4506-T with the IRS to request a “wage and income transcript.” This transcript shows information previously received from the IRS, such as Forms W-2, 1099, 1098 and 5498, and IRA contribution information. Taxpayers can then use this information to file their tax returns.

Boise State Volunteer Income Tax Assistance Program

The Boise State Department of Accountancy operates a Volunteer Income Tax Assistance program for anyone who makes $64,000 or less annually. IRS-certified tax preparers are available to help with current, prior, or amended tax preparation for free.

Locations are available in Boise and Meridian by appointment, or volunteers can help virtually.

More money owed to Idahoans

Many people who haven’t filed their 2020 returns or claimed their refunds may have forgotten to do so because of the chaos surrounding COVID-19.

“People faced extremely unusual situations during the pandemic, which may have led some people to forget about a potential refund on their 2020 tax returns,” Werfel said in a news release.

“People may have just overlooked these, including students, part-time workers and others,” Werfel continued. “Some people may not realize they may be owed a refund. We encourage people to review their files and start gathering records now so they don’t run the risk of missing the May deadline.”

One thing that Idaho taxpayers may have overlooked is unclaimed COVID-era stimulus checks. People who missed a stimulus payment or received less than the full amount are eligible to claim a Recovery Rebate Credit on their 2020 return.

The first stimulus payment was issued between March and April 2020, providing up to $1,200 per eligible adult and up to $500 for each qualifying independent. A second payment was issued in December 2020, providing up to $600 per eligible person.

A final stimulus payment, up to $1,400 per eligible person, was distributed between March and April 2021.

You can check if you received your stimulus payments on the IRS’s website by creating an online account.