IRS: $1 billion in 2020 tax refunds about to expire

(CNN)– The Internal Revenue Service says the deadline to claim the more than $1 billion in tax refunds from 2020 is about to expire.

Friday, May 17, is the deadline for people who failed to file their 2020 tax return to become eligible for a refund.

The IRS says there’s no penalty for failure to file if a refund is due.

However, a return claiming a refund must be filed within 3 years of its due date for a refund to be allowed.

Visit the IRS’ website for details.