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2014 Refunds Ahead of Last Year

 

IR-2014-23, March 6, 2014

WASHINGTON — By the end of February, more than 48 million tax refunds had been issued the IRS today announced – an increase of 5.6 percent compared to the same time last year. As of Feb. 28, the average refund this year is $3,034, up 3 percent compared to the average refund amount for the same time last year. Almost 88 percent of refunds to date have been directly deposited into the accounts of taxpayers, saving them time and a trip to the bank.

The number of returns filed electronically is up slightly from the same time last year however, the number of taxpayers filing from home computers is up 7.5 percent.

At the end of the fourth week of the filing season, the IRS had received almost 40 percent of the returns it expects to receive during 2014.

 

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2014 FILING SEASON STATISTICS

Cumulative statistics comparing 3/01/13 and 2/28/14

Individual Income Tax Returns:

2013

2014

% Change

Total Receipts

58,044,000

58,883,000

1.4

Total Processed

51,778,000

57,410,000

10.9

 

 

 

 

E-filing Receipts:

 

 

 

TOTAL           

53,612,000

54,942,000

2.5

Tax Professionals

30,466,000

30,053,000

-1.4

Self-prepared

23,146,000

24,889,000

7.5

 

 

 

 

Web Usage:

 

 

 

Visits to IRS.gov

180,140,998

165,204,642

-8.3

 

 

 

 

Total Refunds:

 

 

 

Number

45,862,000

48,429,000

5.6

Amount

$135.025

Billion

$146.918

Billion

8.8

Average refund

$2,944

$3,034

3.0

 

 

 

 

Direct Deposit Refunds:

 

 

 

Number

41,137,000

42,380,000

3.0

Amount

$126.032

Billion

$131.203

Billion

4.1

Average refund

$3,054

$3,096

1.1

 

Page Last Reviewed or Updated: 06-Mar-2014