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.
Venture Capital and Entrepreneurs | Dixon Doll
About Dixon Doll For more than 35 years, Dixon Doll has influenced and guided entrepreneurs, investors and executives in the computer and communications industries. In recognition of his accomplishments in venture capital, Dixon received the 2013 Special Achievement Award from the International Business Forum. Dixon was also named by Forbes Magazine as one of…
Inside Wall Street | Tim Sanchez
About Tim Sanchez Tim Sanchez grew up in Oakland, CA. He attended the University of San Francisco where he completed his undergraduate degree in Information Systems Management and dual MBA’s from the Haas School of Business at the University of California at Berkeley and the Columbia University Graduate School of Business. Tim has worked…
Community Leadership – Dave Smith, Former Newark Mayor
About Dave Smith Dave Smith grew up in humble circumstances in Michigan. He attended Michigan Tech University and upon graduating college he wound up in the plastics business as an industrial engineer which brought him out to California. In California he quickly became acquainted with the Jaycee’s organization which focused on community service and…
The Future of Venture Capital | Chris DiGiorgio
About Chris DiGiorgio Christopher DiGiorgio is an Executive Research Fellow (emeritus) at the Accenture Institute for High Performance. Before joining the Institute he had responsibility for Accenture’s overall practice in the Bay Area as the Managing Director with over 2300 professionals. Chris also previously led our High Tech practice in the Silicon Valley and lead…