Taxpayers are still taking their time to file—that’s the takeaway from statistics released by the IRS
The rate of processing for individual income tax returns has increased a bit. The IRS processed 57,085,000 individual tax returns, an increase of 0.4%. The processing rate still stands at about 96%.
And what about those tax refunds? Typically, taxpayers with simple tax returns who count on their tax refunds file early in the tax season. However, refunds remain lower overall - in terms of numbers and dollars - than for the same time last year.The IRS issued 42,636,000 tax refunds as compared to 43,241,000 - a drop of 1.4%. But compared with those 2018 numbers? The IRS issued 48,452,000 tax refunds for the same period in 2018. That’s a drop of nearly 10% over two years.
But, what is up markedly? Visits to irs.gov. The IRS reported 291,906,000 visits to the website, up a whopping 7.1%. Anecdotal evidence from tax professionals back up these numbers. Several have reported - mainly on social media - that client visits are down. The numbers appear to correlate those stories. Of the 56,736,000 returns that have been filed electronically to date , the numbers of professionally-prepared returns drop 2.2%.
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