A pot of unclaimed refunds for tax year 2021 totaling over $21 million awaits thousands of Maryland residents, according to an announcement Tuesday from the Internal Revenue Service.
The IRS estimates that $21,766,300 in refunds remain unclaimed by 22,900 Maryland taxpayers who have not filed their Form 1040 federal income tax return for the 2021 tax year.
The IRS estimates the median refund amount for these residents is $837, though the final amount will vary. According to the federal agency, the estimate does not include the Recovery Rebate Credit or other applicable credits.
Under federal law, taxpayers usually have three years to file and claim their tax refunds. If they don’t file within that period, the money becomes the property of the U.S. Treasury.... Read More: Pikesville Patch