2014 Refunds Ahead of Last Year

 

Have you filed your tax return yet? If you have, there’s a 94% chance that you e-filed your return this year. Below are stats from the IRS. The number of people submitting their return electronically from their home (as opposed to having a professional complete their return) is up 7.5% as compared to last year. So more people are filing their returns themselves, rather than using a CPA.

The average tax return is $3,034, up 7.5% over last year. 88% of those people receiving a return are having the funds direct-deposited into their bank accounts instead of receiving a physical check.

WASHINGTON — By the end of February, more than 48 million tax refunds had been issued the IRS today announced – an increase of 5.6 percent compared to the same time last year. As of Feb. 28, the average refund this year is $3,034, up 3 percent compared to the average refund amount for the same time last year. Almost 88 percent of refunds to date have been directly deposited into the accounts of taxpayers, saving them time and a trip to the bank.

The number of returns filed electronically is up slightly from the same time last year however, the number of taxpayers filing from home computers is up 7.5 percent.

At the end of the fourth week of the filing season, the IRS had received almost 40 percent of the returns it expects to receive during 2014.
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source: IRS.gov

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