With the end of tax season upon us, it is no surprise to see the number of individual income tax returns received rising by more than 17.5% in just one week (from 90,315,000 as of March 29 to 101,849,000 as of April 5), according to the most recent Internal Revenue Service filing statistics for the season.
The total number of returns received by April 5 was up by 0.5% on the same period last year, indicating greater urgency by taxpayers to get their returns filed before the deadline, particularly when factoring in that this tax season is seven days shorter (68 in 2024 versus 75 in 2023).
The average direct deposit refund amount continues to remain steady at $3,088, up 4.9% on the same period in 2023.
Scroll through to see the cumulative statistics for the filing season through the week ending April 5, 2024.
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