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2mo ago

IRS Warns Taxpayers of April 15 Deadline to Claim $1 Billion in 2021 Refunds

Over a million Americans risk losing significant refunds and tax credits if they fail to file their 2021 tax returns by the federal deadline.

The Internal Revenue Service (IRS) Building is seen on February 20, 2025 in Washington, DC.
IRS 2021 Tax Refunds

Overview

  • The IRS estimates that 1.1 million taxpayers have unclaimed refunds for the 2021 tax year, totaling over $1 billion.
  • The median refund amount for 2021 is $781, though additional credits like the Earned Income Tax Credit (EITC) could increase this amount significantly.
  • Unclaimed refunds will become property of the U.S. Treasury if taxpayers fail to file their returns by April 15, 2025.
  • Taxpayers who have not filed returns for 2022 or 2023 may face delays or reductions in their 2021 refunds due to outstanding obligations or debts.
  • The IRS provides tools like the Individual Online Account and Form 4506-T to help taxpayers access necessary documents and file their returns promptly.