E-Filing Up to 30 Percent

While the numbers show that most professional tax return preparers use computers to prepare tax returns but still give their clients a paper tax return to mail to the IRS, the tide is shifting, and this year 39.4 million tax returns - approximately 30% of all returns expected to be filed - were filed electronically. This news makes the folks at the IRS happy, since they are trying to meet a goal mandated by Congress that 80 percent of taxpayers use electronic tax filing by 2007.

Other statistics for this filing season, according to the IRS, include:

  • 109.5 million federal income tax returns have been filed so far, down 3.7 percent from last year.
  • 39.4 million federal income tax returns have been filed electronically, up 13 percent from last year.
  • It is anticipated that the IRS will issue 72.8 million tax refunds this year at an average of $1,714 per refund. This quantity is down .2 percent from last year.
  • The IRS Web site showed a 100 percent increase in tax forms downloaded and recorded 1.5 billion visits this spring.
  • The IRS answered more than 59 million phone calls this spring, up 16 percent from last year.
  • The IRS claims to have answered tax law questions correctly 78 percent of the time.
  • 83 million tax returns have been processed to date.

You may like these other stories...

Truckers and other owners of heavy highway vehicles take note: Your next federal highway use tax return is due on September 2.The September 2 due date, which was pushed back two days because the normal August 31 deadline...
The head of the IRS has a message for taxpayers and tax preparers who have endured long wait times while on the phone with the tax agency: Call your member of Congress.During his keynote speech at the 69th Annual Meeting of...
Regulators struggle with conflicts in credit ratings and auditsThe Public Company Accounting Oversight Board (PCAOB), which was created by the Sarbanes-Oxley Act in 2002, released its third annual report on audits of...

Already a member? log in here.

Upcoming CPE Webinars

Aug 26
This webcast will include discussions of recently issued, commonly-applicable Accounting Standards Updates for non-public, non-governmental entities.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.