Washington (Feb. 24, 2003) -- So far this filing season, 72 percent of taxpayers have filed electronic returns and 77.6 percent of those getting money back have requested direct deposit of their refunds.

Although over 16 million out of 22.7 million e-filed returns have been prepared by tax professionals, the percentage of self-prepared e-filers has jumped 33.8 percent compared to the same time last year, according to the Internal Revenue Service.

In addition, three million taxpayers have checked the status of their refunds online using the "Where's My Refund?" service on IRS.gov. E-filers can begin tracking their refund online within 48-72 hours of filing their electronic return, according to the IRS, whereas paper return filers need to wait about three to four weeks after their return is mailed.

"There's no better way to check on your refund than visiting IRS.gov," acting IRS commissioner Bob Wenzel said. "Using IRS.gov gets you the information you need whenever you want it."

-- Electronic Accountant Newswire staff

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access