Unclaimed 2022 Tax Refunds Face April 15 Deadline
The clock is ticking for taxpayers who may still be owed money for tax year 2022.
The IRS says more than 1.3 million people nationwide have unclaimed refunds and must file their 2022 federal tax return by April 15 to receive them. An estimated $1.2 billion remains unclaimed. The median refund is $686, which means many taxpayers could be owed even more.
For most taxpayers, there is a three-year window to file a return and claim a refund. Once that deadline passes, the refund goes to the U.S. Treasury.
And the refund itself may be only part of the picture. Some low- and moderate-income taxpayers may also qualify for the Earned Income Tax Credit, which could increase the amount they receive. For 2022, the credit was worth up to $6,935 for eligible taxpayers with qualifying children.
Income limits for the 2022 Earned Income Tax Credit were:
- $53,057, or $59,187 for married couples filing jointly, with three or more qualifying children
- $49,399, or $55,529 for married couples filing jointly, with two qualifying children
- $43,492, or $49,662 for married couples filing jointly, with one qualifying child
- $16,480, or $22,610 for married couples filing jointly, with no qualifying children
Taxpayers should also know that a 2022 refund may be held if 2023 and 2024 tax returns have not been filed. Any refund may also be applied to past-due federal or state obligations, including unpaid taxes, child support, or certain student loan debt.
If someone still needs to file a 2022 return, they should act quickly and start gathering documents now.
Missing tax forms can often be requested from an employer, bank, or other payer. Taxpayers can also use the IRS Get Transcript Online tool to access wage and income information. For those who cannot use the online option, Form 4506-T can be filed to request a wage and income transcript from the IRS, though mailed transcript requests can take several weeks.
The IRS also provides prior-year forms and instructions, including the 2022 Form 1040 and Form 1040-SR.
For taxpayers who never filed a 2022 return, this is a simple message: check whether money is waiting for you before the April 15 deadline passes.
