The law requires the tax return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return that qualifies for a refund. The IRS also reminded taxpayers who are seeking a refund that their checks could be held if they have not filed tax returns for and In addition, the refund will be applied to any amounts still owed to the IRS, or their state tax agency, and may be used to offset unpaid child support or past due federal debts, such as student loans.
The IRS also provided a state-by-state breakdown of the number of individuals who did not file a return along with the average potential refund amount for that state:. Practice Management. Follow Us In Real Time twitter facebook linkedin. Tags Tax practice Tax season.
By Michael Cohn CloseText. About Michael. Close extra sharing options. However, any refunds could be held for people who haven't filed returns for and Refund money also will be applied to amounts still owed to the IRS or to state tax agencies.
The money also can be used to offset unpaid child support or past-due federal debts such as student loans. Facebook Twitter Email. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
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Insurances Auto Insurance. Loans Top Picks. Thinking about taking out a loan? Knowledge Knowledge Section. Recent Articles. Image source: Getty Images. Tax refund amounts tend to rise with income. Tax refunds peak for adults in the to age range and then steadily decline. Texas was the state with the largest average tax refunds in and , while Maine had the lowest average in both those years.
Average tax refund by income level There's a clear correlation between income and tax refund amounts. Average tax return by age Tax refund amounts rise with age until reaching a peak with the to group.
Average tax refund by filing marital status Filing status makes a huge difference in the amount of taxes you pay and how much you get back.
Average tax refund by state In and , the same two states were at the top and bottom of the average refund list.
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