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$1 Billion In Refunds Haven't Been Claimed, IRS Says: Here's Who's Eligible

More than 1.1 million Americans are owed a share of over $1 billion in unclaimed tax refunds, but time is running out to collect, the Internal Revenue Service (IRS) has announced.

IRS reveals who’s eligible before the deadline runs out. #DailyVoice

IRS reveals who’s eligible before the deadline runs out. #DailyVoice

 Photo Credit: Pixabay/NikolayFrolochkin
Joe Lombardi
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Taxpayers have until Tuesday, April 15, to file their returns and claim their refunds before the money is forfeited to the US Treasury. The IRS estimates that the median refund is $781, meaning half of the refunds are higher and half are lower.

Who’s Eligible?

Many of those who haven't filed may be due more than just their refund. The IRS warns that low- and moderate-income taxpayers could also be missing out on the Earned Income Tax Credit (EITC), which was worth as much as $6,728 for qualifying families.

Eligibility for the EITC depended on household size and income:

  • Up to $57,414 for married filers with three or more qualifying children.
  • Up to $53,865 for those with two qualifying children.
  • Up to $48,108 for those with one qualifying child.
  • Up to $27,380 for individuals with no qualifying children.

Where Are Unclaimed Refunds?

According to IRS estimates, the states with the most unclaimed refunds include:

  • Texas: 102,200 taxpayers, median refund $810.
  • California: 116,300 taxpayers, median refund $600.
  • Florida: 69,800 taxpayers, median refund $732.
  • New York: 73,000 taxpayers, median refund $995.
  • Pennsylvania: 53,100 taxpayers, median refund $993.

How To File

The IRS recommends that taxpayers act now to avoid missing the deadline. Those who need to file should:

  • Log into their IRS Individual Online Account to access past wage and income statements.
  • Request missing Forms W-2 or 1099 from employers, banks, or other payers.
  • Use IRS tools such as "Get Transcript by Mail" or the automated transcript service at 800-908-9946.
  • File Form 4506-T to request a wage and income transcript, though this option may take several weeks.

Important Reminders

Refunds may be held if taxpayers have not filed for 2022 or 2023.

Any refund due may be applied to outstanding IRS or state tax debt, past-due child support, or federal debts such as student loans.

The IRS offers free resources to help taxpayers file, including prior-year tax forms and instructions at IRS.gov.

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