Self-prepared tax returns efiled with the Internal Revenue Service through May 29 have already exceeded the total for calendar year 2019 by 3.8 percent. While many balance due returns are likely to arrive near the extended filing deadline of July 15, the rise in do-it-yourself units demonstrates that category's continued gain in market share.
With the presumed delay in balance due filings, total returns received through May 29, 133,811,000, remained 6.5 percent behind the 143,166,000 received through May 31, 2019. There were 59,758,000 self-prepared efiles for the most recently ended period, a gain of 5.9 percent from 56,405,000 for last year’s comparable period.
The 61,189,000 efiles from tax professionals were down 15.8 percent from 72,647,000 a year earlier. Combined the 120,947,000 efiles received this year are off 6.3 percent.
Refunds remain well behind last year. There were 90,570,000 refunds issued through the recently reported week, a decline of 12.6 percent from 103,576,000. The total decrease in refund volume was slightly less than $32 billion, a drop of 11.3 percent. Average refunds of $2,770 were 1.5 percent ahead of last year’s $2,730 average, a different of $40.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Friday, 05 June 2020
