WASHINGTON – Over 1 million U.S. taxpayers are still eligible to receive a stimulus check of up to $1,400, but they must take action quickly, according to the Internal Revenue Service.
The IRS recently indicated that approximately 1.1 million taxpayers who have not yet filed their returns may qualify for refunds. However, failure to act promptly could result in them missing out on this financial support.
“According to the law, taxpayers generally have three years to submit their claims for tax refunds,” stated a recent IRS announcement. “If they do not file within this period, the funds become property of the U.S. Treasury.”
The final round of economic stimulus payments, part of the COVID-19 recovery efforts, was authorized in March 2021 under the American Recovery Act. Eligible individuals could receive $1,400 for each filer and dependent.
This suggests that those who did not file their taxes for 2021—typically done in early 2022—should consider doing so as soon as possible.
Once the tax deadline of April 15 has passed, any unclaimed funds will be returned to the U.S. Treasury.
In December, the IRS announced that around 1 million individuals who filed 2021 tax returns did not claim their recovery payments. They began automatically sending checks to those taxpayers who either omitted that line on their returns or incorrectly recorded it as $0.
The agency stated that many additional taxpayers might be eligible, but they need to take action before April 15.
“Taxpayers who qualify and have not yet filed must submit a tax return to claim a Recovery Rebate Credit, even if their income from employment, business, or other sources was minimal or nonexistent,” the IRS emphasized.
The stimulus payments available to taxpayers are in addition to the estimated refunds that those 1.1 million non-filers could claim. The IRS estimates that over $1 billion remains unclaimed by taxpayers who are owed a refund but have not filed their Form 1040 for the 2021 tax year.
The estimated median refund for 2021 is $781. This indicates that half of the unclaimed refunds could exceed $781 while the other half may be less, according to the IRS.
