Thousands of South Carolina residents are owed a 2018 tax refund. Here’s how to get it
More than 18,000 South Carolina residents can get potentially hundreds of dollars in refunds withheld since 2018 by the IRS, but only if they file tax returns within the next two weeks.
According to an IRS press release, $720 is the median refund amount owed. The agency estimates a total of approximately $16.28 million is owed to South Carolina residents.
The amounts are based on 2018 federal income tax returns. People who did not file returns in 2018 qualify for the money.
However to get the money, qualified residents must file tax returns by April 18. If the money is not claimed by the deadline, the federal government keeps it.
“The IRS wants to help people who are due refunds but haven’t filed their 2018 tax returns yet,” IRS Commissioner Chuck Rettig said in the press release. “By law, there’s only a three-year window to claim these refunds, which closes with this year’s April tax deadline.”
Tax year 2018 returns must be filed with the IRS center listed on the last page of the current Form 1040 instructions PDF. Current and prior year tax forms (such as the tax year 2018 Form 1040, 1040-A and 1040-EZ) and instructions are available on the IRS.gov Forms and Publications page or by calling toll-free 800-TAX-FORM (800-829-3676). However, taxpayers can e-file tax year 2019 and later returns.
Still, just because you might be owed a refund, doesn’t mean you’re guaranteed to get one.
The IRS said 2018 tax refunds could be withheld from those who have not filed tax returns for 2019 and 2020. Also, the refund will be applied to any amounts still owed to the IRS or a state tax agency. It could also be used to offset unpaid child support or past due federal debts, such as student loans.
For taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for the years 2018, 2019 or 2020, the IRS suggests they request copies from their employer, bank or other payer. Taxpayers can also order a free wage and income transcript, which shows data from information returns received by the IRS, such as Forms W-2, 1098, 1099, Form 5498 and IRA contribution information. The transcript information can be used to file tax returns.
Transcripts can be ordered at IRS.gov using Get Transcript Online tool. Alternatively, taxpayers can file Form 4506-T to request a wage and income transcript.
This story was originally published April 6, 2022 at 6:00 AM.
