04/17/2023
PRESS RELEASE
For Immediate Release
For more information Contact
Vulcan Kapital Tax & Small Business Services
(317) 406-6648
Email: [email protected]
FOR IMMEDIATE RELEASE
Vulcan Kapital Tax & Small Business Services Urges Taxpayers to Claim their Unclaimed Tax Refunds before July 17 Deadline.
Vulcan Kapital Tax & Small Business Services is urging taxpayers to file their 2019 tax returns before the July 17 deadline to avoid missing out on potentially unclaimed refunds worth nearly $1.5 billion nationally, and $32,115,100 for Indiana residents. The Internal Revenue Service (IRS) estimates that nearly 31,700 people across the State of Indiana have yet to claim their 2019 tax refunds. The average median refund is $916 for this year, and the IRS has done a special state-by-state calculation to show how many people are potentially eligible for these refunds.
By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). For 2019, the credit was worth as much as $6,557. The EITC helps individuals and families whose incomes are below certain thresholds in 2019.
Vulcan Kapital Tax & Small Business Services reminds taxpayers seeking a 2019 tax refund that their checks may be held if they have not filed tax returns for 2020 and 2021. 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 unclaimed refunds for 2019 represent a significant amount of money that could help many of our clients," said Mr. Ghaim, a spokesperson for Vulcan Kapital Tax & Small Business Services. "We urge anyone who has not yet filed their 2019 tax return to contact us at (317) 406-6648 for assistance in gathering key documents and ensuring they meet the July 17 deadline."
Vulcan Kapital Tax & Small Business Services offers several options to assist taxpayers in filing their 2019 tax returns. Clients missing Forms W-2, 1098, 1099 or 5498 for the years 2019, 2020 or 2021 can request copies from their employer, bank, or other payers. Taxpayers who are unable to get those missing forms from their employer or other payers can reach out to us at Vulcan Kapital (317) 406-6648 and we will assist with getting their free wage and income transcript.