IRS Says Tax Filings Up From Feb 7 Last Year

IRS Ups US Tax Return Filings

by Mike Godfrey, Tax-News.com, Washington

18 February 2014

The Internal Revenue Service (IRS) has announced that filings of returns in the United States 2014 individual income tax season have outpaced filings for the same period last year.

As of February 7, the IRS had received 27.3m returns, up 2.5 percent compared to the same time last year. Electronically filed returns account for almost 96 percent of that total.

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

Refunds are also up for 2014, with almost 19.5m issued this year, an increase of more than 18 percent compared to the same time last year. The average refund as of February 7 was USD3,317, up 4.6 percent. With most refunds being directly deposited into taxpayer accounts, just over 87 percent of all refunds issued had been returned that way as of that date.

The new IRS Commissioner John Koskinen has also recently released a video message to US taxpayers, discussing how the IRS and its employees will approach the 2014 tax season.

“I can assure you we are all dedicated to doing whatever we can to help you file your taxes this filing season,” Koskinen said in the video. “We want to provide you with the assistance you need to get your taxes filed accurately and on time, and we will work hard to issue refunds quickly while increasing our efforts to stop tax fraud and identity thieves.”

Koskinen also cautioned taxpayers that telephone lines will be busy this year. “Given our very limited resources, our phone lines are going to be extremely busy this year – and there will frequently be extensive wait times,” Koskinen added. “We are working to limit these waiting times as much as possible, and I apologize that we can’t do more in that regard this year.”
– See more at: http://www.tax-news.com/news/IRS_Ups_US_Tax_Return_Filings____63747.html#sthash.f1h8Ly0y.dpuf

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