Taxpayers who have not yet submitted their 2021 tax returns might still qualify for federal stimulus payments that were provided during the peak of the COVID-19 pandemic, but the window to claim these funds is quickly closing.
The Internal Revenue Service (IRS) has established an April 15, 2025, deadline for those who have not received their third-round Economic Impact Payments (EIPs) to file their 2021 tax returns and request any outstanding payments. The maximum possible payment is $1,400 for each eligible individual.
IRS Reveals Billions in Unclaimed Payments
At the close of 2024, the IRS disclosed that $2.4 billion in unclaimed stimulus payments would be sent to individuals who filed tax returns but either left the Recovery Rebate Credit (RRC) section empty or reported $0 when they were indeed eligible. According to the agency, most payments are expected to be issued by late January 2025, either by direct deposit or through mailed checks, based on the taxpayer’s 2023 tax return information.
Nonetheless, millions of Americans have yet to file their 2021 tax returns, potentially leaving billions more in stimulus funds unclaimed. The IRS has persistently encouraged taxpayers to verify their eligibility and file before the deadline.
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Over 1 Million Americans Have Unclaimed Refunds
Besides stimulus payments, the IRS has indicated that over 1 million Americans are owed unclaimed tax refunds from 2021. The agency estimates that approximately 40,000 taxpayers in Ohio alone could be eligible for a median refund of $762 based on available tax information.
“Time is running out for individuals who may have a tax refund waiting for them,” stated IRS Commissioner Danny Werfel. “We urge people to review their documents and file their 2021 tax return as quickly as possible.”
To receive a refund, taxpayers must submit their 2021 return prior to the April 15, 2025, deadline. Unlike standard refund claims, these amounts are not eligible for automatic extensions and will be lost if not claimed.
Steps to Claim Missing Stimulus Payments
To verify your eligibility and claim any missing stimulus payments, follow these steps:
- Check your 2021 tax return to see if the Recovery Rebate Credit (RRC) section was left empty or recorded as $0.
- If you haven’t filed a 2021 tax return, make sure to do so before April 15, 2025, to claim any outstanding payments or refunds.
- The quickest way to file is through the IRS Free File program or by consulting with a tax professional.
For additional information, visit the IRS website or reach out to a tax specialist to ensure you receive the funds you may be entitled to before the deadline passes.
