The Internal Revenue Service said Thursday it has already received more than half of the tax returns it expects to receive during 2014, even though the filing deadline is nearly a month away.
The IRS said it has received more than 75 million individual tax returns as of March 14 and projects that it will receive about 149 million individual income tax returns by the end of the year.
The agency also offered some advice for the millions of individual tax filers who have business income either as sole proprietors or as subcontractors. Many individual filers also have unreimbursed business expenses, the IRS noted.
The IRS recently issued
For tax year 2013, there is an
Beginning in 2013, the standard mileage rate for the
For 2013, a 0.9 percent
Medicare wages and self-employment income are combined to determine if a taxpayer’s income exceeds the threshold. RRTA compensation should be separately compared to the threshold. For more information, visit
2014 FILING SEASON STATISTICS | |||||
Cumulative statistics comparing 3/15/13 and 3/14/14 | |||||
Individual Income Tax Returns: | 2013 | 2014 | % Change | ||
Total Receipts | 74,882,000 | 75,100,000 | 0.3 | ||
Total Processed | 69,153,000 | 73,157,000 | 5.8 | ||
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E-filing Receipts: |
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TOTAL | 68,029,000 | 68,966,000 | 1.4 | ||
Tax Professionals | 40,117,000 | 39,413,000 | -1.8 | ||
Self-prepared | 27,912,000 | 29,553,000 | 5.9 | ||
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Web Usage: |
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Visits to IRS.gov | 218,469,657 | 195,637,190 | -10.4 | ||
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Total Refunds: |
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Number | 60,243,000 | 61,645,000 | 2.3 | ||
Amount | $172.494 | Billion | $179.793 | Billion | 4.2 |
Average refund | $2,863 | $2,917 | 1.9 | ||
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Direct Deposit Refunds: |
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Number | 52,414,000 | 52,770,000 | 0.7 | ||
Amount | $157.786 | Billion | $158.983 | Billion | 0.8 |
Average refund | $3,010 | $3,013 | 0.08 |