Taxpayers should act now to claim more than $1 billion in refunds for tax year 2021 with the April 15 deadline fast approaching

The Internal Revenue Service announced that over 1.1 million people across the nation have unclaimed refunds for tax year 2021 but face an April 15 deadline to submit their tax returns. The IRS believes that over $1 billion in refunds are yet to be claimed by taxpayers who have not submitted their Form 1040, Federal Income Tax Return, for the 2021 tax year. The median refund amount is estimated to be $781 for 2021, indicating that half of the refunds exceed $781 and half are below this amount. This estimate excludes the Recovery Rebate Credit and other potential credits.

According to the law, taxpayers generally have a three-year period to file and claim their tax refunds. If they fail to do so within this timeframe, the funds become the property of the U.S. Treasury.

For help with your 2021 Tax return, contact our office at 713-804-6695 or schedule an appointment online before the April 15, 2025 deadline.