{"id":9669,"date":"2025-03-14T21:34:20","date_gmt":"2025-03-14T20:34:20","guid":{"rendered":"https:\/\/oxfordwisefinance.com\/blog\/?p=9669"},"modified":"2025-03-14T21:34:27","modified_gmt":"2025-03-14T20:34:27","slug":"claim-tax-refunds-irs-deadline-approaching-for-2021-refunds","status":"publish","type":"post","link":"https:\/\/oxfordwisefinance.com\/blog\/claim-tax-refunds-irs-deadline-approaching-for-2021-refunds\/","title":{"rendered":"Claim Tax Refunds: IRS Deadline Approaching for 2021 Refunds"},"content":{"rendered":"<\/p>\n
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The IRS<\/b> may owe substantial amounts to individuals who failed to file their 2021 taxes<\/b>, potentially ranging from hundreds to thousands of dollars. However, it’s crucial to act quickly, as the deadline to claim this money is swiftly approaching.<\/p>\n

Currently, over 1.1 million taxpayers<\/b> have not submitted their 2021 tax returns<\/b>, which were due on Tax Day<\/b> in April 2022. Consequently, the IRS<\/b> is holding over $1 billion<\/b> in unclaimed refund money that is set to expire on April 15.<\/p>\n

The IRS<\/b> indicates that the average unclaimed tax refund is approximately $781<\/b>. This figure does not include refundable tax credits for 2021<\/b>, such as the earned income tax credit<\/b>, which can be as high as $6,728<\/b> for eligible individuals that year.<\/p>\n

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The announcement from the IRS<\/b> on Tuesday did not highlight that the impending deadline also marks the final opportunity to claim stimulus payments<\/b> provided by the American Rescue Plan (ARP)<\/b> in 2021.<\/p>\n

The ARP<\/b> offered payments of up to $1,400<\/b> for individuals and $2,800<\/b> for married couples, in addition to $1,400<\/b> for each qualifying dependent. While most eligible recipients have already received their payments, individuals who did not file taxes for 2021<\/b> may still qualify for the Recovery Rebate Credit<\/b> if they file by April 15.<\/p>\n

As of now, both the IRS<\/b> and the Department of Treasury<\/b> have not responded to inquiries from Money<\/b> regarding this matter.<\/p>\n

Discover How Much Money the IRS Might Owe You<\/h2>\n

The median unclaimed tax refund stands at $781<\/b> per person, excluding various tax credits. However, it\u2019s essential to note that the IRS<\/b> will not automatically disburse this money. To receive any owed refund, you must file your back taxes before the upcoming deadline.<\/p>\n

Back taxes for the tax year 2021<\/b> must be postmarked by April 15. Failing to meet this deadline may result in your refund disappearing; after three years of an unclaimed tax refund, it is officially considered “property of the U.S. Treasury,” according to IRS<\/b> guidelines.<\/p>\n

States with the largest median tax refunds awaiting claims include:<\/p>\n