IRS: More Than $1.2B in 2022 Refunds Still Unclaimed

Roughly 1.3 million Americans may be leaving money on the table—about $1.2 billion worth—and the clock is ticking. The IRS says people who never filed a federal return in 2023 for the 2022 tax year have until April 15 to claim refunds with a median value of $686, with half worth more, the Hill reports. Some filers could also qualify for credits such as the Earned Income Tax Credit, which was worth up to $6,935 that year for eligible families with children. By law, taxpayers get three years to file and collect. After the cutoff date, unclaimed funds are transferred to the US Treasury, reports Newsweek.

California and Texas top the list of non-filers by count and total dollars, while Massachusetts and Hawaii have the highest median unclaimed refunds. The IRS suggests using its "Get Transcript Online" tool or Form 4506-T to track down copies of documents and notes prior-year tax forms are available on its website. Even if you're due cash from 2022, the refund can be diverted to cover unpaid federal or state taxes, child support, student loans, or other federal debts.