Free Site Registration


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

Advertisement

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



7 Signs Your Best Employees Are About to Leave

Tell-tale indicators that you rock stars are eyeing the door

View the slideshow >>


The Top People in Public Accounting - 2014

The most influential people in the field of accounting, as chosen by their peers.

View the slideshow >>


Top 10 Cities for Accounting and Finance Pros

Accounting Principalsí list shows where your next job should be

View the slideshow >>


Most Unusual Things Employees Were Caught Doing When They Should Have Been Working

Productivity can be a big problem, even at major accounting and tax firms and other types of businesses. Employers recently shared some real-life examples with the staffing company CareerBuilders of some of the more unusual things they've seen employees doing when they should have been busy working:

View the slideshow >>


Back-to-School Tax Tips

Rising education costs mean clients canít pass these up

View the slideshow >>


The Top 10 Retirement Issues

Critical challenges facing Americans and their advisors

View the slideshow >>



10 Best Practices for Accounting Firm Online Content

BKR International hosted a panel of some of the best accounting marketers in the country in conjunction with the Association for Accounting Marketing Annual Summit in Austin, Texas. Putting their smart brains together, they agreed on 10 best practices for building the reputation and visibility of accounting firms in a high technology, but still high touch industry.

View the slideshow >>


Worst Things the Boss Asked Me to Do

When it comes to day-to-day projects, some workers at accounting firms and other types of businesses feel assignments from the boss fall outside of their job description. Workers provided the following real-life examples to CareerBuilder of the most unusual requests they received from their bosses.

View the slideshow >>


Top Regulatory Changes for Businesses in 2014

Paychex has a list of the top regulatory issues facing small businesses this year.

View the slideshow >>



Advertisement

Advertisement

Advertisement

Advertisement