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Whether you’re running a business or reviewing your family budget, the idea of losing access to extra money should send a cold chill through anyone. Especially in times like these – securities market instability, steadily increasing prices for goods…and eventually services. One source of lost cash could be from outstanding tax refunds from the IRS.
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Every year, the opportunity to claim refunds from failure to file a return filed three years prior. In this case, the original tax return was due April 15, 2022. According to statistics from the IRS and individual state tax authorities, the amounts are not insignificant1.
State or District | Estimated number of individuals | Median potential refund | Total potential refunds* |
|---|---|---|---|
Alabama | 22,500 | $674 | $19,490,000 |
Alaska | 4,100 | $721 | $3,745,800 |
Arizona | 35,700 | $627 | $29,675,100 |
Arkansas | 12,600 | $658 | $10,655,400 |
California | 143,200 | $680 | $124,700,500 |
Colorado | 22,000 | $697 | $19,480,500 |
Connecticut | 12,800 | $732 | $11,710,500 |
Delaware | 5,100 | $686 | $4,568,200 |
District of Columbia | 3,000 | $744 | $2,831,200 |
Florida | 89,000 | $638 | $74,481,300 |
Georgia | 45,100 | $645 | $38,369,000 |
Hawaii | 6,600 | $784 | $6,263,800 |
Idaho | 7,200 | $641 | $5,897,400 |
Illinois | 47,800 | $714 | $43,017,600 |
Indiana | 29,500 | $678 | $25,531,600 |
Iowa | 13,700 | $709 | $12,090,700 |
Kansas | 12,800 | $694 | $11,211,500 |
Kentucky | 17,700 | $669 | $15,078,200 |
Louisiana | 19,900 | $694 | $17,589,700 |
Maine | 5,100 | $733 | $4,608,600 |
Maryland | 25,400 | $739 | $23,698,200 |
Massachusetts | 27,300 | $786 | $25,909,300 |
Michigan | 41,400 | $707 | $36,919,000 |
Minnesota | 19,400 | $711 | $17,116,300 |
Mississippi | 11,800 | $635 | $9,909,700 |
Missouri | 29,400 | $654 | $24,810,500 |
Montana | 4,700 | $661 | $3,991,400 |
Nebraska | 6,300 | $703 | $5,498,500 |
Nevada | 16,100 | $652 | $13,751,000 |
New Hampshire | 5,800 | $745 | $5,284,300 |
New Jersey | 33,400 | $746 | $30,821,100 |
New Mexico | 7,600 | $700 | $6,779,300 |
New York | 67,100 | $757 | $62,403,200 |
North Carolina | 46,200 | $638 | $38,329,000 |
North Dakota | 3,000 | $774 | $2,776,300 |
Ohio | 46,300 | $669 | $39,342,300 |
Oklahoma | 19,000 | $672 | $16,366,700 |
Oregon | 19,900 | $670 | $16,975,900 |
Pennsylvania | 48,400 | $703 | $42,949,800 |
Rhode Island | 3,600 | $740 | $3,243,200 |
South Carolina | 16,800 | $642 | $14,205,900 |
South Dakota | 3,400 | $692 | $2,890,100 |
Tennessee | 27,000 | $644 | $22,514,900 |
Texas | 126,000 | $687 | $111,700,000 |
Utah | 11,000 | $659 | $9,509,400 |
Vermont | 2,600 | $719 | $2,246,400 |
Virginia | 34,900 | $695 | $31,135,700 |
Washington | 37,500 | $738 | $34,728,800 |
West Virginia | 5,700 | $756 | $5,217,200 |
Wisconsin | 17,600 | $658 | $14,871,400 |
Wyoming | 2,600 | $714 | $2,352,800 |
TOTALS | 1,322,600 | $686 | $1,159,244,200 |
The state with the highest median amount of potential refund is Massachusetts at $786. The lowest is Arizona at $627. These states have an estimated 27,300 and 35,700 taxpayers potentially eligible for these refunds respectively. If these taxpayers fail to a 2022 tax return within the next 12 days, their money becomes property of the U.S. Treasury.
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Over a million people with potential refund available. For people in lower income groups, this could be a result of failure to file for the earned income tax credit (EITC). The income caps for 2022 were:
$53,057 ($59,187 if married filing jointly) for those with three or more qualifying children;
$49,399 ($55,529 if married filing jointly) for people with two qualifying children;
$43,492 ($49,662 if married filing jointly) for those with one qualifying child, and;
$16,480 ($22,610 if married filing jointly) for people without qualifying children.
A link to the IRS website instructions for the EITC is here2.
Taxpayers need to be mindful that even if there is a 2022 tax refund is owed to them, it may be held up if they haven’t filed subsequent tax return for 2023 and 2024. Another reason is other outstanding federal and state tax debts, unpaid child support, or student loan debt. Whatever the case may be, a taxpayer should consider their entire financial situation and decide whether filing for a refund for prior years is worth the IRS review of their tax transcripts that will follow.
There’s the scoop, everyone! Thanks for taking time to check out this week’s edition of the Tax Clarity Newsletter.
Thank you so much!
References (2):
1 Internal Revenue Service, IR-2026-37, “Time is running out to claim $1.2 billion in refunds for tax year 2022; taxpayers face April 15 deadline,” March 20, 2026, accessed April 2, 2026.
2 Internal Revenue Service, Publication 596, Earned Income Credit (EIC), accessed April 3, 2026.