it has unclaimed tax refunds of almost $1.5 billion — and the tax agency is urging people to act before April 18 to claim any money that's due to them.
The median value of the unclaimed tax refunds is $813 — which means half of the unclaimed refunds will be below $813, and half will be higher than that, the IRS said. from the Center on Budget and Policy Priorities. The IRS has sought to reach out to those non-filers in the past two years since many of the federal government's stimulus efforts — from stimulus checks to the advanced Child Tax Credit payments — were based on a taxpayer's annual return.
On top of that, the refund will be applied to any amount that the taxpayer still owes to a state tax agency or the IRS — and it could also be used to offset overdue child support payments or past due federal debts, including student loans.