FOR RELEASE: 3/18/97 IR-97-15 ELECTRONIC TAX RETURNS SETTING NEW RECORDS Washington -- A month before the tax filing deadline, the Internal Revenue Service had already received a record number of electronic returns. Over 15 million of the more than 50 million returns filed as of March 14 arrived via computer or TeleFile, the file-by-phone system. Two special aspects of electronic filing have also set records. Over 3.5 million taxpayers have filed both federal and state returns in one electronic transmission, surpassing last yearūs federal/state total of 3.2 million. And 233,000 taxpayers have sent their tax returns via modem from their personal computers, using the OnLine Filing Program. This exceeds the programūs 1996 total of 158,000 returns. Another electronic option -- available for any tax return -- is also on a record-setting pace. Taxpayers have had nearly 10.9 million refunds deposited directly into their bank accounts, surpassing last year's total of nearly 10.5 million. The account numbers needed for direct deposit go right on the tax return, after the refund amount. The IRS has processed over $40 billion in refunds, up $2 billion from this time last year. The average refund -- $1418 -- is nine percent higher than last year's. X X X 1997 FILING SEASON STATISTICS Cumulative through the week ending 3/15/96 and 3/14/97 1996 1997 % Change Individual Income Tax Returns Total Receipts 51,215,000 50,678,000 - 1.0 Total Processed 39,756,000 38,249,000 - 3.8 Filing Alternatives -- Total Receipts: Standard Electronic 9,811,000 11,570,000 17.9 TeleFile 2,379,000 3,663,000 54.0 1040PC Format 2,767,000 3,195,000 15.5 Refunds Certified by the Martinsburg Computing Center: Number 29,408,000 28,535,000 - 3.0 Amount of principal $38.119 billion $40.464 billion 6.2 Average refund $1296 $1418 9.4 (NOTE: refund data should NOT be compared to the "processed" numbers above, since those figures reflect Service Center processing, which is completed at least a week before refunds are certified at the Computing Center)