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Tax Filings Surge in Last Week

IRSThe number of returns filed in the last week pushed tax season to where observers thought it would end. Statistics from the Internal Revenue Service for the season ended April 20 showed  the number of returns filed were up .9 percent over last year through April 21, 2017. Many expected results would be up by no amore than 1 percent.

The season had not come close to that figure until the last report. And number of returns efield by paid preparers topped 2017 totals for the only one of the 12 weekly reports issued by the agency. Only the number of refunds remained behind last year

The IRS received 136,919,000 returns through April 20, compared to 135,638,000 for 2017’s comparable period. The total processed surged ahead to 130,477,000, an increase of 1.3 percent from 128, 847,000.

Efiled returns continued to rise with. Total of 124,515,000 for the 2018 season, an increase of 1.9 percent from 122,164,000. The increases in this area likely reflected the late season surge in balance-due filings

There were 70,983,000 efiled returns submitted by paid preparers, a .8-percent increase from 70,401,000 a year earlier, the only time the totals from professionals topped 2017 numbers. Do-it-yourselfers submitted 53,532,000 filed returns this season, up 3.4 percent from 51,763,000 a year ago.

The number and total amount of refunds issued remained down, as they had all season. The IRS issued 95,434,000 refunds through April 20, down 1.7 percent from 97,104,000 the prior year. The total amount of refunds dropped to $265.33 billion, off 1.1 percent from $268.3 billion.

However, the average refund of $2,780 was slightly higher than the $2,763 in last year’s season. The IRS has not speculated on the season but it seems possible anti-fraud efforts may have dented the refund total.

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