The layoffs, which have been directed by the so-called Department of Government Efficiency (DOGE), led by billionaire and "special government employee" Elon Musk, have sparked concerns among experts who fear that the IRS won't be able to process Americans' tax refunds as quickly as usual this year.

The IRS has issued more than 29.6 million individual income tax refunds through Feb. 21, up 2.3% from a year ago.

As the April 15 filing deadline looms, the Internal Revenue Service reminds taxpayers that after three years, any unclaimed 2021 tax year refunds go to the U.S. Treasury.

The Internal Revenue Service is warning millions of Americans they might miss out on $1 billion in refunds if they don't act fast. Roughly 1.1 million Americans still have unclaimed tax refunds for 2021 that will disappear after April 15.

Taxpayers eligible for the Earned Income Tax Credit for 2021 may also claim those funds if they file their returns for the year. Qualifying incomes are $21,430 for a single person without children or up to $57,414 for a married couple filing jointly with three or more qualifying children.

The IRS estimates that more than 1.1 million taxpayers might have qualified for a refund in 2021 but did not file a federal income tax return to claim it.

The IRS is currently sitting on about $92.3 million, ready to be dispersed among 116,300 state taxpayers who have yet to file their 2021 taxes.

If you've already filed your tax return, it's natural to wonder when you'll receive your refund. One of the most common questions is the exact time the IRS makes deposits.