If you are waiting for your tax refund, here I tell you everything you need to know so you don’t miss a single detail. We are going step by step, but first things first: I don’t know if you knew it, but the Internal Revenue Service (IRS) has a large amount of money waiting to be claimed, and it has been waiting to be used for several years now.
The IRS is looking for the owners of more than $1.025 billion in unclaimed refunds from tax year 2021. If you are one of the 1.1 million people who have not yet requested their money, you have until April 15, 2025, to file your return. If you let that date pass, the money will be in the hands of the US Treasury. And we don’t want that to happen. Half of these rebates are over $781, so even if you think it’s a little money, it’s worth checking out.
Who could be on this list of unclaimed tax refunds?
Many of those affected are low- or middle-income workers, students, or people who work part-time. Some don’t even know they have to file a return, especially if they had federal taxes withheld from their pay. But keep in mind that even if you file late, the IRS could withhold part of your refund if you have outstanding debts, such as student loans, child support, or back taxes for 2022 or 2023.
By law, the IRS is required to give beneficiaries three years to claim tax refunds that have been left in the federal government’s coffers. If recipients do not claim it by April 15, those funds will now become part of the United States Treasury.
Let’s talk about this year’s refunds: When do the April checks arrive?
If you filed your 2024 tax return after April 4, 2025, the IRS is already processing payments. Most arrive by direct deposit, but if you prefer a check by mail, it takes an extra week. Here are the key dates according to when they accepted your declaration:
- Declaration accepted on April 7: Direct deposit on April 18 / Check starting on the 25th.
- Declaration accepted on April 14: Direct deposit April 25 / Check starting May 2.
- Declaration accepted on April 21: Direct deposit on May 2 / Check starting on the 9th.
- Declaration accepted on April 28: Direct deposit on May 9 / Check starting on the 16th.
Of course, these deadlines are estimates. If you filed during peak season (like March), if there were errors on your return, or if you claimed credits like the EITC, your refund could take a little longer. But don’t worry: if everything is in order, the IRS is usually punctual.
And what about the Earned Income Tax Credit (EITC)?
This benefit is a huge help for families with moderate incomes. For the 2021 tax year, the EITC can be up to $6,728 if you have three or more children. The income requirements are:
- With three or more children: $51,464 per year ($57,414 if you present together with your partner).
- With two children: $47,915 per year ($53,865 in joint statement).
- With a child: $42,158 per year ($48,108 on the whole).
- Childless: $21,430 per year ($27,380 on the whole).
If you meet these numbers, don’t stop claiming this credit. Many people don’t know what they qualify for, especially if they didn’t have to file a return in other years. But beware: Even if you don’t owe taxes, if money was withheld from your paycheck, filing a return could get some of it back.
