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.
The Time To Start Saving On Your Taxes Is Now
It’s tax time. What? April is still months away, isn’t it? While it’s true that that we still haven’t watched the big crystal ball drop in Times Square or even put up the Christmas tree, it is still time to think about your taxes. That’s because anyone who really wants to be prepared for taxes,…
IRS Announces New Efforts to Help Offshore Taxpayers Be in Compliance
IRS Announces New Efforts to Help Offshore Taxpayers Be in Compliance For years the IRS has been trying to track down U.S. citizens’ offshore assets in order to ensure that taxpayers are paying every penny they owe. However, these efforts have often affected many people who had no intention of ever skipping out on their…
Tips for Filing Your Tax Return
Tax season is here and the deadline for filing your tax returns is nearing. If you are not sure where to start, these five tips may help as you prepare to send your tax returns to the IRS and state authorities. 1.Get Organized You should review all financial activities throughout the year and collect any…
10 Common Tax Filing Mistakes
As this year’s tax deadline approaches, we though it would be a good idea to share 10 common filing mistakes. The American Institute of Certified Public Accountants (AICPA) reminds taxpayers of 10 of the most common mistakes made each year by individual taxpayers on their federal tax returns. These avoidable errors can affect your tax…