Pay attention to this deadline.
According to the new warning, the IRS said it estimates that the midpoint for potential 2018 refunds is $813."That is, half of the refunds are more than $813 and half are less," the agency explained. Certain states are estimated to have a larger total amount of potential refunds from that year, like California, Texas, and Florida.
Your refund could also fall on the smaller end of the spectrum if you owe money to the government in any way."The refund will be applied to any amounts still owed to the IRS or a state tax agency and may be used to offset unpaid child support or past due federal debts, such as student loans," the agency warned.late penalties and interest fees.
The IRS also warned that if you file a return looking to claim a 2018 tax refund this year, it might be held if you have not filed your returns for 2019 or 2020 either. And not filing tax returns if you are required to can hurt you in other areas of your life as well.
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