If you didn't file your 2022 taxes, you may be owed a refund of hundreds — even thousands — of dollars, but the deadline to claim that money is fast approaching.
More than 1.3 million taxpayers have yet to submit their 2022 taxes, which were due on Tax Day in April 2023. As a result, the IRS is holding approximately $1.2 billion worth of unclaimed refund money with an expiration date of April 15.
"By not filing a tax return, taxpayers stand to lose more than just their refund," the IRS wrote in a Friday alert about the upcoming deadline.
The typical unclaimed tax refund is nearly $700, the agency said, and that's not including refundable tax credits for 2022. That year, for instance, the earned income tax credit was worth up to $6,935, and the advance child tax credit could add as much as $1,500 per child to the refund.
Where People Are Solving Their Tax Issues Right Now
How much money the IRS may owe you
The median unclaimed tax refund amounts to $686 per person (excluding tax credits). However, the IRS won’t be sending this money out automatically. If you are owed an old tax refund, you will need to file back taxes to claim it before the deadline.
Those back taxes for tax year 2022 must be postmarked by April 15 of this year. Missing this deadline means that your refund will disappear; once a tax refund goes unclaimed for three years it officially "becomes property of the U.S. Treasury," according to the IRS.
The states with the largest 2022 tax refunds waiting to be claimed include:
- Massachusetts: $786
- Hawaii: $784
- North Dakota: $774
- New York: $757
- West Virginia: $756
How to claim your 2022 tax refund in 2026
To claim your tax refund, you will need to file back taxes for 2022. According to the IRS's website, you can "file your past due return the same way and to the same location where you would file an on-time return." One notable exception is IRS Free File, which does not support filing back taxes.
Some tax software programs will allow you to file previous years' tax returns but may require you to print out your returns and file by mail (or purchase a version of the program for the year you need to file).
For in-person assistance, the IRS's Volunteer Income Tax Assistance (VITA) program may be able to help. Through VITA, community centers, libraries and other local organizations provide legit, free tax help, including filing back taxes at some locations. Tax professionals at brick-and-mortar tax prep companies, such as H&R Block or Jackson Hewitt, can help you, as well.
In short, filing back taxes will likely take a little more leg work than filing the current year's taxes.
Where People Are Solving Their Tax Issues Right Now
Here's what you need to do:
- Gather your income information. Review your documents to determine what you have and what is missing for 2022. The specific documents needed will depend on the type of income received that year, such as W-2s for employee wages, 1099-MISCs or 1099-NECs for gig or contract work, and 1099-INTs and 1099-DIVs for interest or dividend income.
- Request your tax transcript for missing income information. If you can’t find all your 2022 tax information, you can obtain your tax transcript for free from the IRS. Simply create or log in to your IRS account online and request a wage and income transcript, which will include the W-2 or 1099 information you need to complete your return.
- Use the correct forms for your return. When filing your back taxes, make sure that you are using the correct year's form. You may need 2022's 1040, 1040-SR or 1040-NR forms. These are searchable in the IRS’s form archive.
- Mail your return to the proper IRS location. After completing your 2022 tax return, you will need to sign and mail it to the appropriate IRS location. The mailing address for your return depends on where you live. If the IRS has sent you specific filing instructions by mail, follow those.
For further assistance with your back taxes, you can call the IRS's toll-free number, 800-TAX-FORM, or visit a local taxpayer assistance center.
Keep in mind that even if you are owed a 2022 tax refund, it might not result in a payment. The government may first put your refund toward outstanding tax bills from other years, unpaid child support payments or past-due debts.
And if you owe the IRS money from 2022, you might need to pay penalties on top of the past-due amount.
More from Money:
How to File Taxes for Free This Year
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Residents in These States Could See Tax Refund Delays. Here's Why
