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.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.