Many eligible Georgians can claim $720 cash refunds

Many Americans are missing out on $720 cash payments from the IRS. The agency reports that tens of thousands of people have not yet filed their 2021 tax returns. This is especially true for around 38,500 residents in Georgia. There is a total of about $34 million in tax refunds waiting to be claimed. The IRS has set a deadline of April 15 for eligible individuals to file their returns and claim their money. If they do not file within three years, the money will go to the U.S. Treasury. The median refund amount for Georgians is $720, but the actual amount can differ per person. In total, over 1.1 million Americans are eligible for unclaimed refunds, amounting to over $1 billion. This does not include other potential credits, such as the Recovery Rebate Credit. This credit can provide eligible taxpayers with up to $1,400. It is available for those who did not receive one or more COVID relief payments. The IRS began issuing these refunds in late December and will continue as returns are received. People who are due refunds will get their money through direct deposit or by mail. As the deadline approaches, the IRS has shared options for how to get an extension for filing taxes.