The IRS can pay taxpayers refundable tax credits even if they are not required to file because they earn too little money. As a result of this, thousands of Americans and millions of dollars remain unclaimed in the United States. Some people simply don’t know that they qualify and that they can file a 2024 tax return even if they have no obligation to do so.
Missing out on a tax refund payment is more common than people think. That is why the IRS keeps reminding taxpayers of the fact that they may be due a tax refund. If you are not sure how to check your eligibility, follow these simple tips and guidelines from the Internal Revenue Service and find out which tax credit you may be eligible for.
How long will the IRS allow you to claim a refund?
Generally, you have 3 years to claim a tax refund. However, it is only possible to collect it if you file and if you qualify for it. Not only can you get a tax refund when you paid more through the year than you owe in tax to the IRS, but also if you meet the requirements for any refundable tax credit.
For your information, most United States citizens or permanent residents who are currently working in the USA will have to file a tax return. There are a few things to check and see if you need to file a return.
- First of all, your income is over the filing requirement
- Secondly, you have more than 400 dollars in net earnings and you are self-employed (it could be independent work or side jobs)
- Third, you had other situations that require you to file
IRS refundable tax credits
The best way to know if you can still get a tax refund in 2025 and if you have not filed yet, is to check which refundable tax credits are available in the United States.
The most common refundable tax credit is the EITC. That refers to the Earned Income Tax Credit. For your information, to qualify for the EITC, you must have under $11,600 in investment and earn less than $18,591 if single and no kids, or $66,819 if you are married and you have decided to file jointly with 3 or more kids.
Here is a list with other refundable tax credits apart from the EITC:
- Child Tax Credit (partially refundable)
- American Opportunity Tax Credit (partially refundable)
- Premium Tax Credit
- Fuel Tax Credit
If you just qualify for the Child Tax Credit in 2025, you could receive up to $2,000 per qualifying kid. They must have a Social Security Number, be younger than 17 at the end of last year (2024), and be claimed as a dependent on your tax return. A portion of the CTC is refundable for 2024. It is called the Additional Child Tax Credit, and can be up to $1,700 per child.
