STATEN ISLAND, N.Y. — The more than one million Americans who never filed their tax year 2021 returns have only one more month to claim a potential refund that may exceed $700.
Earlier this month, the Internal Revenue Service reminded the roughly 1.1 million Americans who didn’t file their tax year 2021 returns that they only have until Tuesday, Apr. 15, to file their return and potentially receive a refund from a pool of more than $1 billion in unclaimed refunds.
“Under the law, taxpayers usually have three years to file and claim their tax refunds. If they don’t file within three years, the money becomes the property of the U.S. Treasury,” according to the IRS.
Across the country, an estimated 1.1 million residents failed to file their 2021 returns, with more than $1 billion in refunds remaining unclaimed and a median potential refund of $781, meaning half the refunds are more than $781 and half are less.
In New York, an estimated 73,000 residents failed to file their 2021 returns, with more than $72 million in refunds remaining unclaimed.
The median potential refund for Empire State residents sits as $995, more than $200 above the nationwide median potential refund of $781.
Residents are required to file their returns within three years of the due date in order to receive a refund with no penalty. That means that 2021 returns, which were due in 2022, must be filed in 2025 for a refund to be issued.
In order to receive any potential refund, residents will also need to file tax returns from 2022 and 2023, otherwise their 2021 refund may be held, according to the IRS.
Current and prior year tax forms (such as the tax year 2021 Forms 1040 and 1040-SR) and instructions are available on the IRS.gov Forms & Instructions page or by calling toll-free 800-TAX-FORM (800-829-3676).
Source: Americans have just one month to claim $781 tax refund
