How Much Could You Be Owed?
According to IRS projections, the median refund for 2021 tax returns is around $781. This amount does not factor in stimulus payments from the last round of COVID-19 relief. Eligible individuals could receive as much as $1,400 per person via the Recovery Rebate Credit.
Even if you earned little to nothing in 2021, you still might qualify for a refund—especially if you meet the criteria for the Earned Income Tax Credit (EITC). This credit could be worth up to $6,728 for certain lower-income families.
Who Qualifies for the Unclaimed Stimulus Payment?
If you did not receive the third round of stimulus payments, you may still be eligible. The amount you can claim depends on your 2021 income:
- Single filers earning up to $75,000 are eligible for the full $1,400.
- Married couples filing jointly could qualify for $2,800 if their combined income is less than $150,000.
- Each dependent (of any age) also qualifies for $1,400.
The payments phase out gradually for individuals earning over $80,000 and couples earning more than $160,000.
“The IRS is diligently working to enhance service and assist taxpayers,” stated IRS Commissioner Danny Werfel. “These payments exemplify our dedication to going above and beyond for taxpayers.”
How to Claim Your Money
Claiming your refund or stimulus payment is simple: file a 2021 tax return before the deadline of 15 April 2025. If you’ve already submitted your return but missed claiming the Recovery Rebate Credit, the IRS has been automatically issuing payments to those who qualify. For individuals who have misplaced tax documents from 2021, recovery options include:
- Access your IRS online account at IRS.gov to find wage and income transcripts.
- Request missing tax forms (W-2s, 1099s) from former employers or financial institutions.
- Order a tax transcript via mail or by calling 800-908-9946 (note that mailed transcripts may take several weeks to arrive).
What Happens If You Miss the Deadline?
Once 15 April 2025 has passed, any unclaimed refunds will revert to the U.S. Treasury. This means the money is retained by the government, and you lose any chance of retrieving it.
This deadline is particularly crucial for low- and middle-income earners, who may also be eligible for extra tax credits. Not filing means losing out not only on your refund but also on potential credits like the EITC.
Which States Have the Most Unclaimed Refunds?
Some states have a higher number of unclaimed refunds. The top four states with the most eligible taxpayers are:
- California: 116,300 individuals owed refunds, with a median refund amount of $600.
- Texas: 102,200 unclaimed refunds, averaging $810.
- New York: 73,000 unclaimed refunds, with a median of $995.
- Florida: 69,800 residents potentially eligible for a refund, averaging $732.
A detailed state-by-state breakdown is available on the IRS website.
Act Now—Don’t Let Your Money Slip Away
Time is of the essence to claim refunds and stimulus payments that could greatly impact your finances. If you have not filed a 2021 tax return, take action before 15 April 2025. The filing process is easier than you might think, and the potential rewards are significant.
To verify your eligibility and begin the filing process, visit IRS.gov today.
