The tax filing season for this New Year has already begun and like before there is no way you can escape from filing tax returns. Yes, you can file later but with hefty penalties charged by the IRS. Therefore, it is always advisable to pay your tax dues on time and be in the good books with the IRS. Moreover, you have the option to file from the comfort and convenience of your home and office, thus saving you from the troubles of visiting the IRS office. According to a report presented by the IRS, there has been an increase in the number of tax filers filing tax returns this year. Reading further can help you get more insights on the number of returns filed along with the various ways tax filers filed the tax returns.
As per the reports, tax filing in 2014 has outpaced the number of tax filing number what it was last year. The reports suggest that on February 7, 2014 the Internal Revenue Service received as much as 27.3 million returns, which was 2.5 percent more compared to the tax filings done last year. In addition, there was an increase in the electronically filed return than paper filing. If you opt for the same, it is good to choose an authorized e file service provider such as ThinkTradeinc.com. Filing with us can make the tax filing process smooth and safer.
There were more than 26 million tax returns filed with the help of tax professionals or using online software. There has been around 4 percent increase in the number of tax return filed this year. According to a filing report on February 7, 2014 more than 13 million return were filed by taxpayers from their home computers, which was up by almost 14.7 percent to what it was the last year.
If required, you can claims for refunds, and report says that until now, more than 19.5 million taxpayers have filed refunds and there has been 18 percent increase compared to last year. Reports suggest that the Average refund given until February 7 was $3,317, an increase by 4.6 percent compared to last year.
It is a known fact that you cannot escape from the task of filing taxes and filing tax return online save time, also helping you get it done in minutes. With ThinkTradeinc.com, you can experience smooth tax filing process, also adding to safety and security. Reach us support@taxexcise.com or call us at 1-866-245-3918 for queries or assistance.
The statistics given below provides a clear picture of the information discussed above.
Individual Income Tax Returns: |
2013 |
2014 |
% Change | ||
Total Receipts |
26,589,000 |
27,249,000 |
2.5 |
||
Total Processed |
18,811,000 |
26,945,000 |
43.2 |
||
E-filing Receipts: | |||||
TOTAL |
25,121,000 |
26,081,000 |
3.8 |
||
Tax Professionals |
13,456,000 |
12,699,000 |
-5.6 |
||
Self-prepared |
11,665,000 |
13,382,000 |
14.7 |
||
Web Usage: | |||||
Visits to IRS.gov |
90,706,865 |
89,683,640 |
-1.1 |
||
Total Refunds: | |||||
Number |
16,424,000 |
19,459,000 |
18.5 |
||
Amount |
$52.059 billion |
$64.546 billion |
24 |
||
Average refund |
$3,170 |
$3,317 |
4.6 |
||
Direct Deposit Refunds: | |||||
Number |
15,457,000 |
16,976,000 |
9.8 |
||
Amount |
$50.214 billion |
$55.815 billion |
11.2 |
||
Average refund |
$3,249 |
$3,288 |
1.2 |