direct deposit ticks up, irs processing dips.
by beth bellor
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three weeks into the filing season, tax professionals are starting to carve out a larger share of electronic filings.
more on tax season: new tax law roils busy season 2018 | tax pros gain slight ground in e-filings | irs #fails at online services spell problems for professionals | irs warns about private debt collectors for tax season 2018
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the irs had received 41.7 million individual income tax returns as of feb. 16, the end of the third week of filing. that was down 1.8 percent from feb. 17, 2017, but there have been six fewer filing days this year so we’re holding up apples to pencil sharpeners in comparison.
of the returns received, 40.5 million had been processed, down 2 percent.
the irs had processed 97 percent of returns received, down 0.2 percentage points from the previous week.
e-filings have totaled 39.9 million, down 1.4 percent.
of all filings so far in 2018, 95.6 percent have been electronic.
tax professionals had sent in 18.1 million e-filings as of feb. 16, down 4.3 percent. self-preparers sent in 21.8 million, up 1.2 percent.
the professionals had handled 45.5 percent of e-filings, up 3.2 percentage points from week 2.
visits to irs.gov are up a whopping 17.6 percent, to 167.2 million.
total refunds issued numbered 31.9 million, down 2.9 percent. the total amount of $101.2 billion was up 2 percent, and the average refund of $3,169 was up 1 percent.
total direct deposit refunds issued numbered 30 million, down 1.9 percent. the total amount of $97.8 billion was down 1.4 percent, and the average refund of $3,256 was up 0.5 percent.
direct deposits make up 94.1 percent of all refunds, up 0.3 percentage point from the previous week.