If you’re waiting on a tax refund or haven’t filed your return yet, here’s everything you need to know—clearly explained and step by step. You might not realize this, but the IRS still holds over $1 billion in unclaimed tax refunds from 2021.
Yes, billion with a “B”! And the deadline to claim it is April 15, 2025. If you don’t act in time, that money will go straight to the U.S. Treasury—and you’ll lose your chance to claim what’s rightfully yours.
Over $1 Billion in Unclaimed Tax Refunds from 2021
According to the IRS, around 1.1 million Americans are owed a refund for tax year 2021 but haven’t filed a return. That money has just been sitting there, waiting to be claimed. Many of the people affected are low- and middle-income workers, students, or part-time employees who may not have realized they needed to file a return to get a refund.
The average amount for these unclaimed refunds is over $781, and many people could get even more, especially if they qualify for credits like the Earned Income Tax Credit (EITC).
Important: What Happens If You Don’t File by April 15?
By law, the IRS gives you three years to claim your tax refund. For 2021, that means your last day to file and claim any refund is April 15, 2025. After that, the money becomes government property—no exceptions.
Also keep in mind: If you owe any debts, like unpaid student loans, child support, or back taxes for 2022 or 2023, the IRS may deduct those from your refund.
Who Might Be Missing a 2021 Refund?
You could be owed a refund if:
- You earned income in 2021 but didn’t file a tax return
- Federal taxes were taken out of your paycheck
- You were not required to file because your income was low
- You qualify for the EITC, even if your earnings were minimal
Even if you didn’t owe any taxes in 2021, filing a return could still get you a refund—especially if tax was withheld from your wages.
IRS Tax Refund Dates for April 2025
If you recently filed your 2024 tax return, your refund may already be on the way. The IRS processes returns quickly, especially for those who use direct deposit. If you chose to receive your refund by check, expect a delay of about one week.
Here’s a quick look at estimated refund dates:
- Return accepted April 7 → Direct deposit: April 18 / Check: April 25
- Return accepted April 14 → Direct deposit: April 25 / Check: May 2
- Return accepted April 21 → Direct deposit: May 2 / Check: May 9
- Return accepted April 28 → Direct deposit: May 9 / Check: May 16
Note: These dates can vary if your return had errors, was filed during a busy period, or included credits like the EITC.
What Is the Earned Income Tax Credit (EITC)?
The EITC is a powerful tax credit that helps low- to moderate-income families. For tax year 2021, this credit could be worth up to $6,728—but many people still don’t claim it.
Here’s how much you can earn and still qualify:
- Three or more children: Up to $51,464 ($57,414 if married filing jointly)
- Two children: Up to $47,915 ($53,865 jointly)
- One child: Up to $42,158 ($48,108 jointly)
- No children: Up to $21,430 ($27,380 jointly)
Even if you didn’t owe taxes or usually don’t file, if you earned income and tax was withheld, filing a return could mean money back in your pocket.