The IRS recently announced that over 1.1 million Americans have yet to claim their tax refunds for the 2021 tax year, with a staggering $1 billion in unclaimed funds waiting to be distributed. Among these individuals, approximately 38,500 residents of Georgia are eligible for refunds totaling an estimated $33,515,300. The median potential refund amount in Georgia is $720, though individual amounts may vary.
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Deadline to Claim Your Refund: April 15, 2025
Time is running out! Under federal law, taxpayers have a three-year window to file and claim refunds for past tax years. For 2021 tax returns, the deadline to file and claim any unclaimed refunds is April 15, 2025. After this date, any remaining refund money will become the property of the U.S. Treasury.
Who Needs to File?
Many of those missing out on refunds simply did not file their 2021 tax return. If you fall into this category, you could still be eligible to receive your money. The IRS is urging taxpayers to check their records and file before the deadline.
The IRS also clarified that while refunds are available, they may first be applied to past due federal or state taxes, unpaid child support, or other legally required payments before the taxpayer receives their remaining balance.
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How to Claim Your 2021 Tax Refund
If you believe you are eligible for an unclaimed refund, follow these steps:
- Locate Your Tax Documents: Gather any W-2s, 1099s, or other relevant income documents from 2021.
- File Your 2021 Tax Return: If you haven’t already filed, you can complete your return using IRS Free File, tax preparation software, or through a professional tax preparer.
- Check for Additional Credits: Along with your refund, you may qualify for other credits, such as the Earned Income Tax Credit (EITC) or the Recovery Rebate Credit.
- Submit Your Return by April 15, 2025: The IRS must receive your return before the deadline for you to claim your refund.
Recovery Rebate Credit: Get Up to $1,400 More
In addition to tax refunds, taxpayers who missed out on their third stimulus check may also be eligible for the Recovery Rebate Credit. This credit was designed for individuals who did not receive their full stimulus payment in 2021. The credit can be worth up to $1,400 and will either reduce the amount of taxes owed or be issued as a refund.
How Will You Receive Your Refund?
The IRS will issue refunds through either:
- Direct deposit (if you have provided your banking information on your most recent return)
- Paper check (sent to the address on file with the IRS)
Act Now Before Your Money is Gone
Don’t let your hard-earned money go unclaimed. If you haven’t filed your 2021 tax return, take action now. With billions of dollars still available, you could be missing out on a valuable financial boost.
Need an Extension? Here’s How to Get More Time
If you require additional time to gather documents and file your taxes, you may apply for an extension before the April 15 deadline. This will give you until October 15, 2025, to file your return and claim your refund.
Final Thoughts
With the tax deadline fast approaching, now is the time to check if you are owed money from the IRS. Whether it’s a $720 refund or an additional $1,400 from the Recovery Rebate Credit, taking a few simple steps could mean extra cash in your pocket. Don’t miss your opportunity—file your 2021 tax return today!
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