tax refund numbers down, amounts up

data table

tax pros handled 54% of e-filings.

by beth bellor
卡塔尔世界杯常规比赛时间 research

more than 100,000 individual income tax returns have flowed in and out of the internal revenue service, and for the most part, we’re slightly ahead of the 2023 season.

more: tax pros own 53% of e-filings | tax stats still playing catchup | tax pros take the edge in e-filings | tax pros gain ground, and diyers maintain lead | tax pros handle 46.4% of e-filing | tax refunds, tax pro market share trending up | refunds up as tax pros tackle 41.5% of e-filings | tax pros handle 37.7% of e-filings | tax pros file 33% of early returns
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with 10 days before deadline – as of april 5, the latest data available – the irs received 101.9 million returns, up 0.5 percent from the same period the previous tax season. it processed 100.1 million returns, down 0.3 percent.
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tax refunds, tax pro market share trending up

data table

* total refunds issued represents returns received and processed in 2024 – the current year only. the number of direct deposit refunds represents returns received in the current and prior year but processed in 2024.

 

how long before more figures flip positive … or might they not?

by beth bellor

the 2024 filing season has been seven days shorter than 2023’s, but that’s making less difference as individual income tax returns keep dropping into the internal revenue service inbox, just 3 percent off last year’s pace.

more: tax pros handle 37.7% of e-filings | tax pros file 33% of early returns
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the irs had received 44.6 million such returns as of feb. 23, the last week for which data has been released. it had processed 44.1 million returns, down 3.6 percent.
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refunds up as tax pros tackle 41.5% of e-filings

* total refunds issued represent returns received and processed in 2024 – the current year only. the number of direct deposit refunds represents returns received in the current and prior year but processed in 2024.

also: the irs realizes a footnote is in order and we are shocked.

by beth bellor

average tax refunds are on the rise, so the weekly filing data has one uptick besides the amount of traffic to the irs website – an increase that perhaps isn’t a positive.

more: tax pros handle 37.7% of e-filings | tax pros file 33% of early returns
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the internal revenue service had received 34.7 million returns, down 5.7 percent from the same period one year ago, as of the week ending feb. 16, the latest data available. lower numbers are no surprise, of course, because there had been only 19 days in the 2024 filing season, which opened jan. 29, compared to the 26 days there had been in the 2023 season, which opened jan. 23.
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tax pros handle 37.7% of e-filings

data table

paper still used by 2.2 percent of filers.

by beth bellor
卡塔尔世界杯常规比赛时间 research

tax season moves slowly forward, and tax professionals slowly gain ground

more: tax pros file 33% of early returns | if only the irs’s tax pro were usefulthe nightmare of non-credentialed tax preparers | must the irs be a dark hole? | irs plays whac-a-mole with the phones | tax pros are expanding and earning more
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as of the week ending feb. 9 – the latest for which data are available – the irs had received 25.6 million individual income tax returns, down 11.4 percent from the same period a year ago. it had processed 25.4 million returns, down 4.4 percent.

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tax season opens with refunds up 85%

data tablenearly two-thirds of returns have been self-prepared.

by beth bellor

the latest tax season is off to a roar, with refunds up 85 percent and processing up 29 percent above last year at this time.

more on tax season: more: marchternity: just say ‘no’ | marchternity: the solution is community | why the irs is still doing data entry by hand | news on irs is maybe sort of a little bit good | why we all hate the tax code | how bullish are you this tax season? | accountants’ top problems for tax season 2023 | tax season 2023: better or worse?

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as of feb. 3, the end of the first week of collections, the irs had received 19 million individual income tax returns, up 13.5 percent from the same week in 2022. it had processed 16.8 million returns, up 29.1 percent.
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down by 400,000 returns – the end of tax prep?

red alert: tax professional e-filings drop by 0.5% year-to-year, first year-to-year decline ever.

final irs stats for busy season 2020 shows professionals filed 0.5% fewer returns than last year and lost market share to diy’ers.

busy season barometer:
how accountants are battling the coronavirus recession
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by beth bellor
卡塔尔世界杯常规比赛时间 research

in what may be an alarming turning point for the profession, tax practitioners finished an already chaotic and bruising tax season 2020 after preparing a total of 73.8 million e-filed returns – a decline of 400,00, or 0.5 percent, from tax season 2019 – the first such reversal on record. ever.

jon baron

more on tax season 2020: say hello to the new 24-month busy season | when covid ‘got real’ | tax pros hold efiling market share as tax seasons winds down | the top six irs #fails this tax season (so far) | how covid has pulverized irs operations | the mystery of 10 million missing tax returns | covid cuts accounting profits | why busy season may never be the same again | covid tests accountants’ entrepreneurial talents | pro tax prep stalls to a crawl amid covid-extended season | clients, revenues, profits – trending down, down, down |

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“if you are in public accounting and relying on personal return revenue, the results this year are troubling as it is the first time that professionally prepared returns actually fell from the prior year,” says jon baron, the longtime ceo of thomson reuters tax & accounting, and now a venture capitalist with more than a couple startups in stealth mode.

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tax pros hold efiling market share as tax seasons winds down

https://www.research.net/r/finaltax20
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refunds up but barely.

busy season barometer:
congratulations! you survived tax season 2020!
today’s bonus question: what’s next?

join the survey. get the answers.

by beth bellor

as the extended 2020 tax season drags to a close, nearly all the touchpoints remain in the red.

more: tax pros take bigger share of e-filings | the mystery of 10 million missing tax returns | tax pro e-filings down 20 percent | irs web traffic doubles over year-ago | covid drowns irs in new filings | 2020 tax season comes to a screeching halt | the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed | tax pros trail by 908,000 returns | tax pro irs filings lag by 532,000 | tax pro e-filings lag by 512,000 returns | tax pros kick into high gear | slow start for tax pro e-filing | data points down as tax season opens | the fight for new tax clients
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the internal revenue service had received 142.4 million individual income tax returns, down 2 percent from the same period in 2019, as of july 3, the latest data available. it had processed 130.6 million returns, down 9.5 percent.
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tax pros take bigger share of e-filings

refunds up, but not by much.

by beth bellor

ever so slowly, the professionals are closing the gap with the diyers in tax preparation.

more: the mystery of 10 million missing tax returns | the tax season 2020 dumpster fire | the fight for new tax clients
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the internal revenue service had received 139.9 million individual income tax returns as of the week ending june 26 – the latest data available – down 3.5 percent from the same period in 2019. it had processed 128.5 million returns, down 10.6 percent.
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