Numbers that tell the story — IRS data, filing statistics, and what the figures reveal about taxes in America.
The Treasury Department and the Internal Revenue Service (IRS) have released state-by-state figures for Economic Impact Payments (EIPs). The ten states receiving the greatest number of payments to date are: The ten states receiving the least number of payments to date are: You can see the entire list on the IRS website. According to the IRS figures, nearly…
Taxpayers still aren’t rushing to file: that’s the initial takeaway from a second set of statistics released by the Internal Revenue Service (IRS). Tax season opened on time on January 27, 2020, one day earlier than in 2019. As of the end of the second full week of tax season (ending February 7, 2020), the IRS had received 28,662,000…
Do you file an accurate tax return and pay what you owe each year? If so, you’re in the majority: a report released by the Internal Revenue Service (IRS) indicates that the nation’s tax compliance rate is holding at 84%, the same as in prior years. The report also provides an estimate of the tax…
According to the most recent data available from the Internal Revenue Service (IRS), just 12,177,779 taxpayers claimed the charitable donation deduction for the 2018 tax year, totaling $102.7 billion. That compares to 33,629,985 taxpayers who claimed the charitable donation deduction for the 2017 tax year, totaling $160 billion. That’s a difference of 21,452,206 taxpayers claiming nearly $37…
Where are all of the taxpayers? As tax season comes to a close, the Internal Revenue Service (IRS) hasn’t yet seen an expected rebound in filing numbers after a slow start. Year-to-date statistics show that, compared to 2018, the numbers of tax returns received and processed are still lagging. Tax season opened on January 28, 2019. As…
Might we finally be turning a corner? Tax season appeared to be off to a slow start when it opened in January, with initial statistics showing fewer returns filed and smaller refunds issued. Numbers from the Internal Revenue Service (IRS) have remained low since the open, but this past week they’ve finally ticked up where it matters to…
The tax season appeared to be off to a slow start when it opened last month, with initial statistics showing fewer returns filed and smaller refunds issued. While the numbers from the Internal Revenue Service (IRS) were down, expectations were still high. However, a few weeks later, the data is again raising eyebrows: across the board, fewer taxpayers…
The Internal Revenue Service (IRS) might have opened tax season on time this year, but tax season is proving to be anything but ordinary. Initial statistics show that, compared with the last filing season, taxpayers aren’t rushing to file their returns. Tax season opened on January 28, 2019. In the first full week of tax season (ending…
Have you filed your tax returns yet? Chances are, the answer is no. Taking into account health care reporting requirements, expiring tax breaks, and a relatively healthy economy, numbers of taxpayers filing returns were expected to climb higher in 2017. That hasn’t happened.
According to the Internal Revenue Service (IRS), the average federal income tax refund issued to taxpayers for the 2016 calendar year was a whopping $2,860.