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.
Defining A Meaningful Life | Howard Getson
About Howard Getson Howard Getson is the founder and CEO of Capitalogix, an AI trading systems company that essentially provides its users a “hedge-fund-in-a-box.” Prior to forming Capitalogix, Howard had an active corporate legal practice which he worked in from 1987 to 1993. Howard has a passion for helping people define purpose in their…
Economics Today: North Korea, China and South-East Asia | Richard Dasher
About Richard Dasher Richard Dasher has been Director of the US-Asia Technology Management Center since 1994 and, concurrently, Executive Director of the Center for Integrated Systems since 1998. His research and teaching focus on innovation systems and the impact of new technologies on industry structure and dynamics. Dr. Dasher serves on selection and review…
What Does It Take to Build a Company?
What Does It Take to Build a Company? The world is full of people who want to get rich. At the same time, there are a lot fewer people who have actually achieved that goal. Perhaps for many on the outside looking in, it would seem logical that most of the world’s wealthiest people got…
How Important Are Relationships in Business?
How Important Are Relationships in Business? What makes a great leader? There are several answers to this question and it really depends on whom you ask. I meet with many great business leaders and while they often identify many of the same qualities of great leadership no two answers are exactly the same. It usually…