refunds are up overall, but down in direct deposit.
by beth bellor
are those diyers losing ground while the tax professionals gain it? why yes. that’s exactly the case.
more: tax pros handle 53% of e-filings | tax pros hold their ground | pros tackle 49% of e-filed returns | survey: tax season swings into the red | another tax season from hell?
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the pros pulled out of the red year-over-year and solidly hit the black – or green, according to our chart – by preparing 55.5 million electronic filings of individual income tax returns, 3.4 percent higher than the same week last year. factor in that 2021’s season started 18 days later, and there is some real reason to preen.
e-filings
electronic filings overall totaled 104.8 million, down 1.1 percent from the same period in 2020. self-preparers handled 49.3 million of current filings, down 5.7 percent.
total returns
as of april 16, the latest data available, the internal revenue service had received 111 million returns, down 4.3 percent. it had processed 100 million returns, down 6.2 percent.
that pegged the agency’s processing rate at 90.2 percent.
website visits
visits to irs.gov numbered 1.18 billion, up 58.3 percent. no breakdowns were provided regarding how many of those were return-related inquiries vs. people seeking information on the status of economic relief payments.
refunds
the irs issued 73.3 million refunds, down 9.9 percent, in the total amount of $210.7 billion, down 8.1 percent. the average refund of $2,873 was up 2 percent.
direct deposit refunds numbered 68 million, statistically flat, in the total amount of $199.9 billion, down 0.9 percent. the average direct deposit refund of $2,939 was down 0.8 percent.