"October 15th was the final deadline for filing your income tax return. While many people look forward to a refund, millions of Americans unknowingly leave money on the table every year. In fact, the IRS is often holding funds for taxpayers who never claim them. These unclaimed refunds can happen for several reasons, including not filing a return, making mistakes on the paperwork, or having refund checks returned as undeliverable."
"The IRS holds a significant amount of unclaimed tax refunds annually. For 2025 alone, more than $1 billion affecting over 1.1 million people remains unclaimed just because they haven't filed their 2021 claims yet - yes, 2021. These unclaimed funds usually come from tax returns that were never filed, even though the taxpayer had money withheld or qualified for refundable credits such as the Earned Income Tax Credit or the Child Tax Credit."
Millions of Americans fail to claim tax refunds for reasons such as not filing a return, paperwork errors, or undeliverable refund checks. The IRS holds billions annually in unclaimed refunds; for 2025, over $1 billion affecting more than 1.1 million people remained unclaimed due to unfiled 2021 claims. Unclaimed funds often arise when taxpayers had withholding or qualified for refundable credits like the Earned Income Tax Credit or Child Tax Credit, with an average 2021 unclaimed refund of about $781. The IRS holds refunds for three years from the filing deadline, so eligible taxpayers must file promptly before funds are forfeited.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]