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Time running out to claim $1B in 2021 tax refunds

March 14, 2025
in Accounting
Reading Time: 2 mins read
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Time running out to claim B in 2021 tax refunds
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More than 1.1 million taxpayers nationwide are still owed unclaimed refunds for tax year 2021, but they only have another month to submit that year’s returns.

The Internal Revenue Service estimates that $1,025,336,800 in refunds remain unclaimed by 1,142,000 taxpayers who have not filed their 1040 for the 2021 tax year. The deadline for filing to claim these refunds is Tax Day, April 15.

The median refund is an estimated $781, which does not include the Recovery Rebate Credit or other credits. California and Texas have the most taxpayers still owed a 2021 refund, followed by New York and Florida. Median unclaimed returns are highest in New York ($995), Pennsylvania ($993), Rhode Island ($946) and Massachusetts ($936).

Current and prior-year tax forms are on the IRS.gov Forms and Instructions page or can be obtained by calling (800) 829-3676.

Credit: Source link

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