tax season ends with pros covering 54% of returns

direct deposit refunds were the only down note.

by beth bellor

the final report from the tax season we thought would never end is in, and on higher notes than might have been expected.

more: 54% of tax returns go through pros | tax pros race to the finish line | tax pros widen lead over amateurs | pros surge ahead in tax prep | tax pros handle 53% of e-filings | tax pros hold their ground
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the agency received 148 million individual income tax returns, up 11.8 percent from the same period in 2020, when the endless season was 18 days longer. it processed 135.8 million returns, up 13.4 percent and setting the processing rate at 91.7 percent.

e-filing

electronic filings totaled 138.6 million, up 15.9 percent. tax professionals handled 74.2 million of those returns, up 22.9 percent, while self-preparers turned in 64.4 million, up 8.8 percent.

the professionals had 53.6 percent of the market. what that means may be in question, as commenters on earlier posts have noted hybrid models in which diy players have moved to a “pro-assisted” model that shifts some diy returns to the professional column.

website visits

visits to irs.gov at 1.37 billion were up 14.5 percent.

refunds

total refunds numbered 95.6 million, up 6.4 percent, in the total amount of $270.4 billion, up 8.6 percent. the average refund of $2,827 was up 2 percent.

total direct deposit refunds numbered 87.1 million, up 16.4 percent, in the total amount of $252.4 billion, up 15.8 percent. the average direct deposit refund of $2,899 was down $14 or 0.5 percent, the only negative in the entire report.

posted on may 28, 2021