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February 27, 2004
Early Returns Reflect More E-filing
WASHINGTON - The Internal Revenue Service said today that electronic filing has shown a sharp increase for this year�s early filers.
Through February 20, overall e-filing reached 29 million returns, an increase of more than 2 million, or 8 percent, over the same period last year. More than 6.6 million taxpayers have e-filed from their personal computers, a 23 percent increase.
"E-filing is off to another good start," said IRS Commissioner Mark W. Everson. "More and more taxpayers are discovering the benefits of e-file."
E-filing is fast, safe and accurate. By choosing to have their refunds deposited directly to a bank account, e-filers can have the money in two weeks or less.
The early refund statistics show that:
- The IRS has certified 31.8 million refunds, an increase of 4.1 percent over the same time last year.
- The refunds total $72.8 billion, up from $66.9 billion.
- The average refund is up $97, to $2,292 - a 4.5 percent increase.
- Three out of four taxpayers receiving refunds had them deposited directly to their bank accounts. Direct deposit - the fastest, safest and most convenient way to get a refund - is available to all filers.
2004 Filing Season Statistics
Cumulative through the week ending 2/21/03 and 2/20/04
|
2003 |
2004 |
Change |
| Individual Income Tax Returns |
|
|
|
| Total Receipts |
39,078,000 |
40,110,000 |
2.6% |
| Total Processed |
32,936,000 |
34,328,000 |
4.2% |
| E-filing Receipts: |
|
|
|
| TOTAL |
27,019,000 |
29,145,000 |
7.9% |
| TeleFile (phone) |
2,509,000 |
2,330,000 |
- 7.1% |
| Computer |
24,510,000 |
26,815,000 |
9.4% |
| Tax Professionals
|
19,121,000 |
20,184,000 |
5.6% |
| Self-prepared |
5,389,000 |
6,631,000 |
23.0% |
| Tax Year 2003 Refunds Certified: |
|
|
|
| Number |
30,507,000 |
31,753,000 |
4.1% |
| Amount of Principal |
$66.948 billion |
$72.792 billion |
8.7% |
| Average Refund |
$2,195 |
$2,292 |
4.5% |
| Direct Deposit Refunds: |
|
|
|
| Number |
22,470,000 |
24,195,000 |
7.7% |
| Amount |
$55.816 billion
|
$61.892 billion |
10.9% |
| Average |
$2,484 |
$2,558 |
3.0% |
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