Tax Stats: April 2013

Our monthly collection of statistics from the world of tax.

Our fifth Tax Stat for April looks at the lower number and amount of refunds issued in the first part of tax season.

According to preliminary data from the Treasury, it issued fewer refunds by March 3, 2012, than in the same period in 2011, and the total amount of money refunded was down, too. The average refund, meanwhile, was off over $60 from last year. However, a number of forms weren’t available for much of the period covered, and there were delays in some processing some refunds, so it may turn out that that ground was made up during the rest of tax season.

Source: Interim tax data, Treasury Inspector General for Tax Administration

Just recently, the Treasury released preliminary figures for the first part of tax season. Surprisingly, given the late start to the season, individual returns received by March 3, 2012, were up over the same period in 2011, as were the number of e-filed returns. Paper-filed returns and Free Filed returns, on the other hand, were down.

Source: Interim tax data, Treasury Inspector General for Tax Administration

A study by two professors, Joshua Blank and Daniel Levin, reveals that the IRS puts out far more press releases on criminal convictions and civil injunctions about tax fraud in the run-up to April 15 than during the rest of year.

Source: "When Is Tax Enforcement Publicized?" Blank and Levin

In 2012, federal collections across a wide range of sources were up somewhat from 2011, according to a recent data release. They collected $2.524 billion in 2012, up from $2.414 billion. One of the biggest percentage increases -- though one of the small absolutely increases -- was in estate and gift taxes, which rose from $9.079 billion to $14.45 billion.

Source: IRS Data Book 2012

In fiscal 2012, the federal government collected $2.5 trillion in taxes -- about $1.3 trillion of which came from individual income tax. That and employment taxes account for almost four-fifths of federal collections.

Source: IRS Data Book 2012



Tax Tips for the Armed Forces

The IRS has put together its annual selection of advice for members of the military

View the slideshow >>


6 Tips for Retaining Millennials

Bruce Tulgan shares the best ways to keep your young stars

View the slideshow >>


Top 15 Accounting Firm Taglines

Our favorite firm slogans from around the CPA profession.

View the slideshow >>


Top 10 Challenges of Managing Multiple Accounting Offices

Consolidation in the accounting industry has resulted in more accounting firms juggling multiple locations. Maureen Schwartz, executive director of BKR International, provides a top 10 list of challenges as well as guidance for multiple-office practice management.

View the slideshow >>


What to Do When Your Identity Has Been Stolen

A step-by-step guide for victims of ID theft (and their advisors)

View the slideshow >>


The 'Tax Warrior' Creed

Philadelphia firm Drucker & Scaccetti creates a warrior mindset

View the slideshow >>


10 Tips for Fighting Tax-Related ID Theft

Constant vigilance is the price of fighting online fraud

View the slideshow >>


Taxpayers Speak!

A WalletHub survey reveals what your clients really think about taxes and more

View the slideshow >>


Top 10 Form W-2, 1099 and 1095 Myths vs. Realities

Greatland Corporation has compiled a list of misconceptions when it comes to tax-reporting requirements. Failing to understand the real truth behind these myths can cost a business extra money to file again or, even worse, to pay steep fines if reporting is not done in compliance with regulations.

View the slideshow >>


The Fastest-Growing Firms in the U.S.

The firms with the highest 2015 revenue growth from our Top 100 Firms/Regional Leaders list

View the slideshow >>