If you didn’t file a tax return for the 2021 year, there’s a chance you could be one of the 1.1 million taxpayers still eligible for a refund— and it could be more than you think. However, you must act fast: after April 15, 2025, these unclaimed refunds will be forever lost to the U.S. Treasury. This is your last chance to collect the money you’re owed, and it could be a lifeline for your finances.
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Who Can Claim Their Refund?
Many taxpayers who missed the 2021 filing deadline may still be entitled to a refund, especially if they qualified for the Earned Income Tax Credit (EITC). This refundable credit can be worth up to $6,728 for qualifying families with children, and you don’t need to have earned a lot of income to claim it.
Even if your income was modest in 2021, the IRS may have withheld federal taxes from your paycheck, which means you could be owed money. If you missed filing a return, now’s your chance to fix that—and the refund could be substantial.
Key Deadlines to Keep in Mind
The window to claim your refund is closing quickly. In order to receive your 2021 refund, you must file your tax return by April 15, 2025. After that date, the funds will be absorbed into the U.S. Treasury, and you will lose your right to claim it. It’s important to note that the IRS allows a three-year grace period to file for any unclaimed refunds from past years—so act before it’s too late.
What’s at Stake: The Amounts You Could Receive
The total amount of unclaimed tax refunds from the 2021 tax year exceeds $1 billion. While refund amounts vary based on individual circumstances, the median refund is around $781. However, for families who are eligible for credits like the EITC, refunds can reach several thousand dollars. While a smaller refund might seem insignificant, it’s still money you’re entitled to, and it can make a difference in your financial health.
What Happens If You Miss the Deadline?
If you fail to file by April 15, 2025, your refund will be permanently forfeited. Federal law only gives you three years to file a tax return and claim your refund—after that, the funds go to the government. That means the money you could have used to pay down debt, invest, or save for future needs will no longer be available to you. Don’t miss out on this opportunity.
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How to File a Claim and Claim What’s Rightfully Yours
Filing a past-due tax return isn’t as difficult as it might seem. To get started, visit the IRS website to create an individual online account. You’ll also need your W-2 or 1099 forms from 2021, which report your income and taxes withheld.
If you can’t find your documents, you can request a free wage and income transcript from the IRS, which will list all income reported for that year. Alternatively, you can contact your employer or financial institution for a copy of your W-2 or 1099. If you’re unsure how to navigate the process, you may want to take advantage of the IRS’s Volunteer Income Tax Assistance (VITA) program or seek help from a tax professional.
Don’t Delay—Gather Your Documents Now
It’s important to start gathering your documents right away, so you don’t miss the filing deadline. If you’re missing key forms like your W-2, the IRS’s wage and income transcript can help, or you can request missing forms directly from your employer.
Final Thoughts: Claim What’s Yours
With over $1 billion in unclaimed refunds waiting to be distributed, you could be one of the many taxpayers who are due for a financial boost. The time to act is now—file your tax return for 2021 by April 15, 2025, and secure the refund that’s rightfully yours. Whether you plan to use it to pay off debt, build savings, or invest, that money can go a long way in improving your financial situation. Don’t let this opportunity slip away.