The IRS said that people still haven’t claimed more than $1 billion in tax returns from 2021. About a million filers could lose these funds if they don’t file their taxes by April 15, 2025, which is the last day to ask for refunds for that fiscal year.
Federal law says that people can only get returns up to three years after the date they filed their taxes. The money is given to the government after this time. It ends on April 15, 2021, for 2021. The IRS says that people who don’t file will lose an average of $780.
You will lose your 2021 tax return if you don’t act SOON
The government said in a blog that if you didn’t file a tax return in 2021, you may not be able to get any refunds you are owed. People who owe taxes are fined, but people who are waiting for returns aren’t usually looked into for delays.
For people who filed their taxes late, it is important to get old tax papers like W-2 or 1099 forms. With an IRS.gov account, you can see your salary records and transcripts, but it could take weeks to get hard copies. The agency says that digital choices should be tried first.
If I do my taxes online, can I use one?
Most tax software doesn’t let you file online forms from previous years. People who owe taxes must buy desktop copies for 2021, fill out the forms, and print them out to mail. This process takes longer, especially if information from past jobs is needed.
Some people could also get the Recovery Rebate Credit, which is linked to the stimulus checks they will get in 2021. People who are single can get up to $1,400, and pairs can get up to $2,800. The amount goes up if you have eligible children. For a family of four, the maximum amount is $5,600.
People who qualify for the credit did not have to get the original aid. But it has to be claimed on the tax return for 2021. The IRS warns that people who don’t do this will lose both the return and the credit.
There are different ways to get your taxes done for the 2024–2025 tax season
H&R Block, Liberty Tax, and Jackson Hewitt can help you with old tax forms in person or online. TaxAct stands out because its software is cheap, and the IRS Free File program gives free tax forms to people with low incomes. There is no digital platform that lets you easily send in late taxes.
The IRS says, “You would have to buy and download the company’s 2021 desktop edition, then print and mail the completed return.” Some businesses offer help with finding lost papers, but the wait time depends on how complicated the case is.
People who owe money to the IRS are told to start the process early. Errors can be avoided by checking updated mailing addresses, bank statements, and information with former employers. People who are behind on their documents can ask for extensions, but these do not change the limit of April 15, 2025.
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