Time Running Out to Claim $1.2 Billion in 2022 Tax Refunds

The IRS has issued an urgent reminder that over 1.3 million taxpayers nationwide have until April 15, 2026 to claim approximately $1.2 billion in unclaimed refunds for the 2022 tax year. The median refund amount is estimated at $686, with half of eligible taxpayers owed more than that figure.

Share:

Under federal law, taxpayers have a three-year window to file returns and claim refunds. After the April 15 deadline, any unclaimed funds become property of the U.S. Treasury.

Key details:

  • California leads with the highest number of potentially eligible taxpayers (143,200) and total potential refunds ($124.7 million)
  • Texas follows with 126,000 taxpayers and $111.7 million in unclaimed refunds
  • Many low- and moderate-income workers may also qualify for the Earned Income Tax Credit, which was worth up to $6,935 in 2022 for families with qualifying children

Important caveats: Refunds may be held if taxpayers haven’t filed 2023 and 2024 returns, and any 2022 refunds will first be applied to outstanding IRS debts, state tax obligations, or past-due federal debts like student loans.

Sources:

Time is running out to claim $1.2 billion in refunds for tax year 2022; taxpayers face April 15 deadline – https://www.irs.gov/newsroom/time-is-running-out-to-claim-1-point-2-billion-in-refunds-for-tax-year-2022-taxpayers-face-april-15-deadline

Posts