Print this page

Estimated reading time: 0 minutes, 52 seconds

Nearly 70 Percent Fed 1040s eFiled

tax artWASHINGTON — Nearly 99 million individuals efiled their federal income tax returns electronically during 2010, a 3-percent increase from the prior year. That's out of a total of 141.5 returns filed to date this year, according to the Internal Revenue Service. With mandates for efiling kicking in next year, that rate seems likely to increase.

The IRS noted that during the last decade the number of returns filed electronically has increased by 145 percent while the overall number of returns filed grew by only 8 percent. However, the 2010 efiling rate came as the number of returns filed dropped from 143.5 million in 2009, a decline of 1.4 percent.

The number of refunds directly deposited in taxpayer bank accounts grew at an even faster pace. There were 74.5 million returns directly deposited this year, a 2-percent increase of percent from just under 73 million in 2009. That meant direct deposits represented 69 percent of all refunds, up from 66 percent a year earlier.

The average refund was just under $3,000, an increase of 5.6 percent from 2009's $2,836. Refunds returned by direct deposit averaged $3.2 million, a rise of 5.7 percent from the prior year's $3,018.

 

Read 6036 times
Rate this item
(0 votes)