Summary
The IRS reports that over 1.3 million Americans have yet to claim their 2022 tax refunds, amounting to nearly $1.2 billion in unclaimed money. Taxpayers have until April 15 to file their returns and receive refunds; otherwise, they risk losing this money permanently. The largest numbers of people who haven't filed are in populous states like California, Texas, and Florida.
Key Facts
- About 1.32 million Americans have not claimed 2022 tax refunds.
- The total unclaimed refund amount is nearly $1.2 billion.
- California, Texas, and Florida have the highest number of unclaimed refunds.
- Taxpayers must file by April 15 to claim 2022 refunds.
- The median potential refund is estimated at $686.
- Significant unclaimed refunds also exist in Illinois, Pennsylvania, Ohio, Georgia, and North Carolina.
- Failing to file can also mean losing out on important credits, like the Earned Income Tax Credit.
- If the deadline passes, unclaimed funds go to the U.S. Treasury.
