Taxpayers who failed to submit their 2021 tax year returns may still be eligible for refunds if they file soon enough, according to the U.S. Internal Revenue Service (IRS).
“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 agency said in a March 11 statement.
The total value of these unclaimed refunds is calculated to be more than $1 billion.
“The IRS estimates the median refund amount is $781 for 2021. That means half of the refunds are more than $781 and half are less. This estimate does not include the Recovery Rebate Credit or other credits that may be applicable,” the IRS said….