top of page

The IRS might owe you $1,031 if you live in Pennsylvania, but you have to act fast

ALTOONA, Pa. (WTAJ) — The IRS could owe Pennsylvania residents more than $1,000 but the deadline to file for it is this week.

The IRS said the average payment to Pennsylvania residents is $1,031, but the catch is that it’s for those who didn’t file a 2020 tax return — and the deadline to do so is May 17.

According to IRS data, more than 38,000 residents of the Commonwealth are owed for their 2020 taxes, totaling roughly $43.2 million. That might seem like a lot of money, but it’s just a small slice of the $1 billion they say has gone unclaimed.

Filing a return for a refund must be done within three years of its due date. Normally, that would be April 15, but due to COVID, the 2020 deadline was extended to May 17. This now gives those who forgot about it just a few more days to get it done and claim their refund.

Reminder: There is no penalty for claiming a refund late.

While the average owed in Pennsylvania is $1,031, it could be more for some. The IRS will still factor in rebates and credits, including the Earned Income Tax Credit (EITC). The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments, also known as stimulus payments, distributed in 2020 and 2021.

Gathering all the necessary documents and forms to file for 2020 may take time. Here are some options to help get your return filed:

  • Request copies of key documents. Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for the years 2020, 2021 or 2022 can request copies from their employer, bank or other payers.  

  • Use Get Transcript Online at IRS.gov. Taxpayers who have lost contact with their employer or other payers can order a free wage and income transcript at IRS.gov using the Get Transcript Online tool. For many taxpayers, this is by far the quickest and easiest option.  

  • Request a transcript. Another option is for people to file Form 4506-T, Request for Transcript of Tax Return, with the IRS to request a “wage and income transcript.” A wage and income transcript shows data from information returns received by the IRS, such as Forms W-2, 1099, 1098, Form 5498 and IRA contribution information. Taxpayers can use the information from the transcript to file their tax return. But plan ahead – these written requests can take several weeks; people are strongly urged to try the other options first.  

  • Current and prior years’ tax forms. Tax year 2020 Forms 1040 and 1040-SR and instructions are available on the IRS.gov Forms, instructions & publications page or by calling toll-free 800-TAX-FORM (800-829-3676).

For anyone who has not filed a federal income tax return for 2020, the IRS offers tools and resources on IRS.gov. Free support includes the Interactive Tax Assistant (ITA), information on What to do if you haven’t filed your return, and Frequently asked questions and answers (FAQs).

Qualified taxpayers can also access free tax preparation assistance through the Volunteer Income Tax Assistance and the Tax Counseling for the Elderly programs. Use the VITA Locator Tool or call 800-906-9887 to locate the nearest VITA site.

Comments


bottom of page