Filing Season 2014 Begins with More Returns Filed

The IRS  announced that tax filings in 2014 have outpaced filings for the same time last year.

As of Feb. 7, the IRS received 27.3 million returns, up 2.5 percent compared to the same time last year.

Electronically filed returns account for almost 96 percent of those filed so far this year.

Taxpayers, either through tax preparers or from their home computers, have e-filed more than 26 million returns so far this year, up almost 4 percent compared to the same time last year.

As of Feb. 7, taxpayers have filed more than 13 million returns from home computers, an increase of 14.7 percent compared to the same period last year.

Refunds are up for 2014, with almost 19.5 million issued this year, an increase of more than 18 percent compared to the same time last year.

The average refund as of Feb. 7 is $3,317, up 4.6 percent compared to the same time last year.

Refund averages generally have higher dollar values early in the filing season than later in the year.

Most refunds are directly deposited into taxpayer accounts; just over 87 percent of all refunds issued were directly deposited as of Feb. 7. 2014.

IRS Tax Return Filing Season 2014 – More Tax Returns Filed