IRS owes nearly $40 million to N.J. taxpayers who haven’t filed tax returns, agency says

Published: Mar. 25, 2022

The deadline is looming for more than 39,000 New Jerseyans who didn’t file a 2018 tax return.

The IRS said it has some $40 million of refunds due to residents who didn’t file that year. The midpoint refund is $872, meaning half the people would get more and half would get less, the IRS said.

Taxpayers can’t wait much longer to get the money. By law, there is only a three-year window to claim late refunds, and that runs out on this year’s April 18 filing deadline.

“We want to help people get these refunds, but they need to file a 2018 tax return before this critical deadline,” said IRS Commissioner Chuck Rettig

Across the country, almost $1.5 billion is due to approximately 1.5 million Americans who didn’t file in 2018, the agency said. The midway point for refunds nationwide is $813, which is $59 less than for New Jerseyans.

If people do not file within three years of the initial due date, the refunds become the property of the U.S. Treasury.

The refunds also have a caveat, the IRS said.

“The IRS reminds taxpayers seeking a 2018 tax refund that their checks may be held if they have not filed tax returns for 2019 and 2020,” it said. “In addition, 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 IRS said current and prior year tax forms, such as the 2018 Form 1040, 1040A and 1040EZ, and their instructions are available on the Forms and Publications page or by calling 800-TAX-FORM.

It encourages taxpayers to file online, but that can only be done for tax year 2019 and later.

If you are missing income statements — Forms W-2, 1098, 1099 or 5498 for the years 2018, 2019 or 2020 — the IRS says you should ask for copies from your employer, bank or other payer.

If you can’t get the missing forms, you can order a free wage and income transcript with the IRS’ Get Transcript Online tool. It will show all the information the IRS has received about you, and you can use those numbers to complete your return.

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published this page in News and Politics 2022-03-26 03:26:55 -0700