A significant number of taxpayers across the United States are missing out on substantial refunds due to unfiled 2021 tax returns. According to recent reports, over 1.1 million individuals nationwide are eligible for refunds totaling $1.025 billion. In Michigan alone, approximately 40,300 residents are owed $37.3 million in unclaimed refunds. The Internal Revenue Service (IRS) urges these individuals to file their returns by April 15 to claim what is rightfully theirs.

Many taxpayers who have yet to file may also be eligible for additional benefits beyond just their regular refunds. Those who missed out on stimulus payments can claim a recovery rebate credit when filing their 2021 returns. This credit could amount to up to $1,400 per person or $2,800 for married couples filing jointly. Families with dependents might qualify for even higher amounts. Furthermore, other potential credits, such as the earned income tax credit, could further increase the refund amount for eligible filers.

Filing a 2021 tax return is crucial not only for claiming refunds but also for ensuring financial stability and maximizing available benefits. The IRS has already issued automatic payments to some taxpayers who were overlooked in previous stimulus distributions, totaling about $2.4 billion. However, those who still haven't filed risk losing out on this money if they miss the April 15 deadline. It's important for everyone to take advantage of this opportunity to secure their rightful refunds and potentially receive additional credits that could significantly impact their financial well-being.