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Wallethub: NY has the highest state & local tax rates
Wallethub says New York has some of the highest state and local tax rates.
NEW YORK - Taxpayers in New York, New Jersey and Connecticut could be owed millions of dollars by the Internal Revenue Service – but the deadline to claim your money is running out.
JUMP TO: NEW YORK l NEW JERSEY l CONNECTICUT
According to the IRS, roughly 940,000 people across the U.S. who didn’t file their 2020 tax year returns may be eligible for their part of over $1 billion in unclaimed refunds.
But if you are owed any of that money, you must file by the May 17 deadline to get it. The federal government’s revenue service has issued several reminders warning taxpayers of the deadline.
New York
- Estimated number of individuals: 51,400
- Median potential refund: $1,029
- Total potential refunds: $60,837,400
New Jersey
- Estimated number of individuals: 24,400
- Median potential refund: $920
- Total potential refunds: $27,408,300
Connecticut
- Estimated number of individuals: 9,800
- Median potential refund: $978
- Total potential refunds: $11,343,600
In all, the DMV could leave $99,589,300 in potential refunds on the table if not claimed by the deadline.
Tax Day 2024: What to know about refunds, deadlines, extensions before April 15
The deadline to file your federal taxes, April 15, is less than a week away, and if you don't file or get an extension in time, you could face some hefty penalties.
If you still need to file, HERE are some resources to get your documents in order, and some ways to get free help.
For a full state-by-state list of potential cash refunds, click HERE.
Sam Kosmas, with FOX 5 DC, helped contribute to this report.