E-Returns Expected to Grow to 50 percent of Total by 2007
According to recent statistics suggested by the IRS, basic tax returns that are filed electronically in 2007 are expected to total almost 50 percent of all returns filed during a typical tax season. Last year the total was 125.1 million returns.
In 2000 alone, it is expected that 33.6 million returns will be filed over the Internet for 26.5 percent of the total. The number of electronic returns is expected to grow to an average of 60 million returns by 2007.
Reasons are attributed to faster response for refunds by the IRS, along with an increase in the number of electronic filing sites and ease of preparation.
The outlook, however, remains rosy for tax preparers. Last year, 21.2 million returns were filed with the assistance of a tax professional.
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.