IRS tax refunds: What is the deadline to claim your money?

Every year, typically from January through April, the Internal Revenue Service (IRS) receives and processes tax returns and refunds for the previous tax year.

However, taxpayers can still file their returns after that period—and even several years down the line. That said, to remain eligible for a refund, taxpayers must act quickly, as strict deadlines apply.

How long do you have to claim an overdue tax refund?

Taxpayers risk forfeiting their refund altogether if they fail to file their tax return. By law, the final deadline to claim a credit or refund for a specific tax year is generally the later of these two dates:

• Three years from the date you filed your federal income tax return.
• Two years from the date you paid the tax.

This time frame is known as the Refund Statute Expiration Date (RSED). The IRS explicitly states that it will not process tax refunds or tax credits claimed past the established legal deadlines.

“You cannot receive a credit or refund if you do not file a claim within three years of filing your original return, or two years after paying the tax, whichever is later—unless you qualify for an exception that allows additional time to file,” the IRS notes.

To claim a tax credit or refund, you must do so on your original return (Form 1040) or on an amended return (Form 1040-X).

Claiming your refund past the deadline

The tax agency may grant additional time to file a claim for a credit or refund in the following circumstances:

• Reaching a written agreement with the IRS to extend the time to assess the taxes.
• Being affected by a presidentially declared disaster: you may have up to one additional year to claim a credit or refund.
• Serving in a designated combat zone or in a contingency operation.
• Filing your return late due to a deduction for a bad debt or a loss from a worthless security.

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