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IRS Sees Millions of Tax Returns Last Days of Tax Filing Season

A recent update from the Internal Revenue Service (IRS) states that IRS has received about 135.6 million returns for the current year following the late surge of tax filings during the end of April. It is reported that after the mid of April 2018, IRS received more than 17 million tax returns and importantly the majority of the tax filing, 13.6 million returns came through electronically.

On the whole, IRS received about 135.6 million tax returns through the last month of April during the tax filing season. When looking at the stats, the number of tax filing of this year 2017 is close to the number of tax returns from the last tax filing season 2017.

The number of refunds which are reported this year 2017, improved up to 97 million worth $268.3 billion in this mid-April tax filing. When compared to last year tax refund, this year’s average tax refund was $2,763 from last year’s 2016 average refund $2,711.

About 11.6 million extension forms have been filed in this tax filing season. And there is a rise of about 0.9% of extension forms this year when compared to last year. Among this, the majority of the form extensions where e-filed and is calculated as 9.7 million, which is a rise of about 11% from the last tax year. In order to give you a clear picture about the tax filing statistics from the current year and previous year kindly check the following table.

Tax Filing Statistics of 2017

Income Tax Returns (Individual)
2016
2017
Percent Change (%)
Total Returns Received 136,528,000 135,638,000 -0.7
Total Returns Processed 19,456,000 128,789,000 -0.5
       
E-filing Receipts:
     
Total 122,546,000 122,164,000 -0.3
Tax Professionals 70,864,000 70,401,000 -0.7
Self-Prepared 51,682,000 51,763,000 0.2
       
Total Refunds: 
     
Number 97,079,000 97,104,000 0.0
Amount $263.197 Billion $268.296 Billion 1.9
Average Refund $2,711  $2,763 1.9
       
Direct Deposit Refunds:
     
Number 81,221,000 81,646,000 0.5
Amount $234.269 Billion $239.410 Billion 2.2
Average Refund $2,711 $2,763 1.9
       
Direct Deposit Refunds:
     
Number 81,221,000 81,646,000 0.5
Amount $234.269 Billion $239.410 Billion 2.2
Average refund $2,884 $2,932 1.7

 

Note: This chart depicts the cumulative statistics by comparing 22 April 2016 and 21 April 2017 tax details.

By admin

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