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Pro Returns Continue to Lag 2013 Season

irs logoThe Internal Revenue Service seemed to be working its way through a backlog of individual tax returns during the last week. Meanwhile, the number of returns prepared professionally remained down. For tax season from January 31 through February 14, receipts were down slightly - off .8 percent - but the number of returns processed were 24.8-percent higher than in the corresponding period of the 2102 tax season, according to this week's IRS report.

And the amount of money refunded continued to soar over 2013 totals. The IRS has paid out $100.5 billion for the season to date. 22.9 percent-higher when compared to the $81.9 million pumped out through Feb. 15, 2013. That means another $36 billion in checks went out between February 8 and February 15 The average return of $,3211 this year was 6.3 percent more than $3,021 a year earlier. The size of the average return for the February 8 period was $3,317.

The story continued to be the rise in self-prepared returns. There were 18.2 million of those so far in 2014, up 6.6 percent from 17.1 million a year ago. Paid preparers have filed just under 19 million returns, down 5.4 percent from just over 20 million in 2013's corresponding period. The professional total represented a slight improvement for the season through February 8 when that category was off by 5.6 percent.

Electronic filing remained strong. The IRS said nearly 95 percent of all returns received this year were efiled.

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