Filing Season 2014 Begins with More Returns Filed

WASHINGTON — The IRS today announced that tax filings in 2014 have outpaced filings for the same time last year. As of Feb. 7, the IRS received 27.3 million returns, up 2.5 percent compared to the same time last year. Electronically filed returns account for almost 96 percent of those filed so far this year.

Taxpayers, either through tax preparers or from their home computers, have e-filed more than 26 million returns so far this year, up almost 4 percent compared to the same time last year. As of Feb. 7, taxpayers have filed more than 13 million returns from home computers, an increase of 14.7 percent compared to the same period last year.

Refunds are up for 2014, with almost 19.5 million issued this year, an increase of more than 18 percent compared to the same time last year. The average refund as of Feb. 7 is $3,317, up 4.6 percent compared to the same time last year. (Refund averages generally have higher dollar values early in the filing season than later in the year.)

Most refunds are directly deposited into taxpayer accounts; just over 87 percent of all refunds issued were directly deposited as of Feb. 7. 2014.

Information provided by IRS.gov

2014 FILING SEASON STATISTICS

Cumulative statistics comparing 2/8/13 and 2/7/14

Individual Income Tax Returns:

2013

2014

% Change

Total Receipts

26,589,000

27,249,000

2.5

Total Processed

18,811,000

26,945,000

43.2

 

 

 

 

E-filing Receipts:

 

 

 

TOTAL          

25,121,000

26,081,000

3.8

Tax Professionals

13,456,000

12,699,000

-5.6

Self-prepared

11,665,000

13,382,000

14.7

 

 

 

 

Web Usage:

 

 

 

Visits to IRS.gov

90,706,865

89,683,640

-1.1

 

 

 

 

Total Refunds:

 

 

 

Number

16,424,000

19,459,000

18.5

Amount

$52.059 billion

 

$64.546 billion

 

24

Average refund

$3,170

$3,317

4.6

 

 

 

 

Direct Deposit Refunds:

 

 

 

Number

15,457,000

16,976,000

9.8

Amount

$50.214 billion

 

$55.815 billion

 

11.2

Average refund

$3,249

$3,288

1.2

Get In Touch

Share On Social Media

Other Recent Blog Articles

October 2021 Market Update

October 20, 2021

What impacted markets over the last month? Last month, we noted the September meeting of the Federal Open Market Committee (FOMC) was a key event on the horizon and it…

Read More

September 2021 Market Update

September 15, 2021

What impacted markets over the last month? The big macro story over the last month revolves around reduced growth expectations for the third quarter, with U.S. GDP now expected to…

Read More

August 2021 Market Update

August 15, 2021

What impacted markets over the last month? U.S. equity markets seem to be in a summer lull at the moment, with market volatility dropping during the first few weeks of…

Read More