IRS Has Handed Out More Than $100 Billion in Refunds so far
As with every tax season there have been some mistakes that have caused problems for some taxpayers, as well as the usual battle with tax scams that pop up every year. However for the most part, the refund process has gone well to this point. In fact, at the end of February, the IRS reported that it had issued $125 billion and processed nearly 40 million tax returns. The average refund was reportedly $3,120.
Compared to last year, the IRs is only about .1 percent behind in the number of returns it has processed. As for refunds compared to the same time last year, the IRS has issued 1.1 percent fewer than in 2014. The average amount is up by $4, which individually isn’t much, but it’s a good sign for the country as a whole. The IRS says that so far about four out of every five returns has received a refund this year.
On the downside, that trend is not likely to continue, given that most of the early filers are typically expecting a refund. Those who expect to owe money often wait as long as they can before sending in their return. Overall, the nation’s top tax agency expects to process more than 150 million income tax returns before the tax season officially ends on April 15.
Still haven’t filed your return? It’s not too late. Contact GROCO today for help at 1-877-CPA-2006, or by clicking here.
Wealth Building: Six Keys
Wealth Building: Six Keys By Scott Hove There are keys to wealth and success that those who have attained them understand. If you wish to build wealth and achieve success then it’s crucial to implement the keys discussed below. Here, then, are six things that the successful understand and implement. As you read them, please…
Real Estate Investing: Lease Options Offer Multiple Profit Opportunities
Real Estate Investing: Lease Options Offer Multiple Profit Opportunities By Jordan Taylor Mention “real estate investing strategies” and the first thing that typically comes to mind is buying and selling. But a strategy often overlooked and underutilized is the option—and the smart use of options can generate some fast and impressive profits. An option…
Behavioral Finance: Beyond Greed and Fear
Behavioral Finance: Beyond Greed and Fear “Modern portfolio theory,” a complex mathematical system explaining the workings of the financial markets, has been quite influential on the thinking of investment managers over the last quarter century. The theory derives from the work of a handful of finance professors, several of whom were awarded Nobel Prizes for…
California Billionaires
California Billionaires March 10, 2006 Recent reports show that there are at least 100 new billionaires in the world this year, adding to the ever expanding list. Many billionaires reside in California, and are displayed below. Listings include rank, name, age where known, wealth in billions of dollars and source of the money. A number…