1040 forms
This year’s filings are still behind last year; more and more tax pros won’t be vacationing after April 18; and other statistics as of the middle of the 2017 filing period.
AT-Season2017-Returnsfiled.jpeg

Returns received by the IRS

The number of individual income tax returns received by the IRS in 2017, versus the comparable date in 2016. Experts originally blamed the gap on PATH Act requirements that the IRS hold refunds with Earned Income Tax Credits and other credits until Feb. 15, but the gap has persisted beyond that deadline.
AT-Season2017-PreparerVSelf.jpeg

Professionals versus DIYers

Self-prepared e-filing receipts started tax season much more strongly, accounting for almost two-thirds of receipts, but by the end of February, professionally prepared e-filing had taken the lead.
AT-Season2017-AverageRefund.jpeg

When the credits kick in

The average size of individual income tax refunds in 2017, versus the comparable date in 2016. Note the jump after the Feb. 15 release date for refunds including EITC, Child Tax Credits, and American Opportunity Credits.
AT-Season2017-totalrefund.jpeg

Still not caught up to last year

The post-Feb. 15 jump shows up in the total amount of refunds given – as does the gap from last year.
AT-Season2017-TimeOff.jpeg

Plans for April 19

Asked of 336 accountants and tax professionals in mid-March; more than half (56%) plan to take at least a day off, but 41 percent aren’t planning to take any time off at all.
AT-Season2017-Vacation.jpeg

Not rest for the weary

Of the 186 accountants and tax pros who planned to take time off after tax season in mid-March; a third (30%) are planning to travel for vacation; the rest plan to rest up – and catch up – at home.
AT-2017TaxSeason-Refund.jpeg

Taxpayer refund expectations

From a National Retail Federation survey of 7,600 consumers in early February.
AT-2017TaxSeason-SavingPlans.jpeg

How taxpayers plan to spend their refunds

From a National Retail Federation survey of 7,600 consumers in early February.
AT-2017TaxSeason-Fear.jpeg
From the 2017 WalletHub Tax Survey of over 500 taxpayers in early March. See the full survey here.
AT-2017TaxSeason-Payment.jpeg

Paying late probably also means filing late ...

From the 2017 WalletHub Tax Survey of over 500 taxpayers in early March. See the full survey here.
MORE FROM ACCOUNTING TODAY