Did you forget to file your taxes in 2020 when the Covid-19 pandemic hit? If so, you might be missing out on a big chunk of money from the IRS.

The good news is that you still have time to file your 2019 federal tax return and claim your refund. But you have to act fast, because the deadline is Monday, July 17.

The bad news is that nearly 1.5 million taxpayers are in this situation, and they are leaving almost $1.5 billion in unclaimed refunds on the table.

That’s a lot of money that could come in handy right now, especially if you are struggling financially due to the pandemic.

Why you should file your 2019 tax return ASAP You may think that filing your taxes late is a bad thing, but it’s actually not if you are owed a refund. The IRS won’t charge you any penalty or interest for filing late in this case.

However, if you don’t file your 2019 tax return by Monday, you will lose your refund forever. That’s because the law gives you only three years to file and claim your refund. And since the original tax day in 2020 was postponed by 90 days due to the pandemic, the three-year window also ends on July 17.

So don’t let this opportunity slip away. You could be missing out on hundreds or even thousands of dollars that belong to you.

How to file your 2019 tax return and get your refund Filing your 2019 tax return is not as hard as you may think. Here are some steps to follow:

• First, you need to get the 2019 tax forms from the IRS website or by calling 800-TAX-FORM. You can’t file electronically for 2019, so you have to print and fill out the forms on paper.
• Second, you need to gather your income information for 2019. This may include your W-2 form from your employer, your bank statements, your investment statements and any other documents that show how much money you made in 2019. If you can’t find these documents, you can request a copy of your W-2 from your employer or bank, or get a transcript of your income from the IRS online.
• Third, you need to calculate your tax liability and see if you qualify for any credits or deductions that can lower your tax bill or increase your refund. One of the most important credits to check is the Earned Income Tax Credit (EITC), which can give you up to $6,557 if you have low or moderate income and meet certain requirements. You can use the IRS EITC Assistant tool to see if you are eligible.
• Fourth, you need to mail your completed 2019 tax return to the IRS address for your state. You can find the address on the IRS website. Make sure to postmark it by July 17 to meet the deadline.
• Fifth, you need to wait for your refund to arrive. You can track the status of your refund online using the Where’s My Refund? tool on the IRS website. You can also choose to receive your refund by direct deposit, which is faster and safer than getting a check in the mail.

What could delay or reduce your refund While filing your 2019 tax return is a smart move, there are some things that could prevent you from getting your full refund or getting it quickly.

For example, if you haven’t filed your 2020 and 2021 tax returns yet, the IRS may hold your 2019 refund until you do so. This is because they need to verify that you don’t owe any taxes for those years.

Also, if you owe any money to the IRS, a state tax agency, child support or federal debts like student loans, the IRS may use part or all of your refund to pay off those debts.

Finally, keep in mind that filing your 2019 tax return won’t affect your stimulus payments that were issued in 2020 and 2021 as part of the pandemic relief packages. Those payments are based on different criteria and are not taxable.

So don’t wait any longer and file your 2019 tax return today. You may be surprised by how much money you can get back from the IRS.