Believe it or Not, So Far the IRS Is Refunding More Money This Year

It’s a rarity that anyone ever has anything good to say about the IRS; just as it’s a rarity that the federal tax agency has good news for taxpayers. However, according to recent reports, the IRS does have some very good news to share in regards to tax returns so far in 2015.
While earlier reports indicated that the IRS would not be able to respond to nearly as many inquiries from taxpayers this year – especially over the phone – more people are using the agency’s website tools to find help and get answers. Meantime, so far, the IRS says that it has received almost 20 percent of the total returns they expect to get this year. So what’s the good news?
It’s actually two-fold. First, the tax agency is reporting that of the roughly 27.5 million tax returns they have received have, 19.7 million of them have been issued a refund. Those refunds have been moving according to schedule, which is contrary to earlier reports, which indicated that the IRS would most likely be slower in issuing returns this year.
The other good news is that the returns have generally been larger than last year. So far the IRS has issued a total of about $66 billion in returns, with the average return coming in at $3,366. That is a little more than the average amount at this same time in 2014. Also of note, nearly 95 percent of all returns that the IRS has issued so far have been sent through direct deposit.
If you’re still looking for help with your tax return then contact the experts at GROCO today for help. Just click here or call us at 1-877-CPA-2006.
Empowering Leaders of Family Businesses
Transcript: Alan Olsen Welcome to American Dreams. My guest today is Lee Brower. Lee, welcome to today’s show. Lee Brower Alan, I’m delighted to be here. Thank you for having me. Alan Olsen Oh, I’m excited for this session night ugly. I’ve sat in classes with you. Management Consulting techniques, strategic planning. And…
Redefining Social Responsibility In The Financial Industry: Our Conversation With David Reiling
See David’s Recent Interview with Alan Olsen: https://www.youtube.com/watch?v=ztdtPfH9RAk&t=2s David Reiling is an accomplished social entrepreneur and innovator in the field of community development finance and financial inclusion. He has been the Chief Executive Officer of Sunrise Banks since 1995, and since then, he has successfully transformed Sunrise Banks into a leading player in the industry,…
NBA All-Star Weekend Economic Influence
Written by Ryan Hickman If you have walked around downtown Salt Lake City recently, you’d come across ginormous signs advertising the NBA. But not just advertisements for the local Utah Jazz, but for the annual pinnacle of NBA events: the 2023 All-Star Game. This annual event envelopes whichever city hosts the events, which include…