The IRS announced that around 1.1 million eligible Americans still have an unclaimed $1 billion in 2021 tax refunds, which they must file for by April 15, 2024. Standard law permits three years to claim refunds, or funds revert to U.S. Treasury. Despite most taxpayers receiving their Economic Impact Payments (EIPs) related to pandemic relief, some eligible individuals, including those who did not file their taxes in 2021, failed to claim their Recovery Rebate Credit. This situation has heightened the urgency for certain taxpayers to take action before the deadline.
The IRS reported that approximately 1.1 million Americans have a collective $1 billion in unclaimed refunds for the 2021 tax year, which must be claimed by April 15.
Taxpayers generally have three years to file for refunds after which unclaimed funds revert to the U.S. Treasury, a reminder to act promptly.
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