The IRS warns Ohio residents that $34.7 million in unclaimed tax refunds are at risk

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The IRS warns Ohio residents that $34.7 million in unclaimed tax refunds are at risk

According to the IRS, if Ohio residents do not act quickly, they risk losing an estimated $34.7 million in unclaimed tax refunds from the 2021 tax year.

Approximately 39,400 people across the state failed to file their Form 1040 Federal Income Tax Return for the April 2022 tax deadline.

The median potential refund in Ohio is $762, slightly lower than the national median of $781.

Some states, such as Pennsylvania, Massachusetts, and Rhode Island, have even higher median refunds than $900.

If no action is taken, these refunds, which total around $1 billion nationwide, will become the property of the United States Treasury.

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