The Internal Revenue Service reminded taxpayers and preparers Monday that they have only two weeks to go before the April 18 filing deadline.

As of March 25, the IRS has received more than 82 million individual income tax returns, which is 58 percent of the 141 million returns expected this year. The IRS has received about the same number of returns so far this year as it did at this time last year, while processing of returns is up 3 percent from the same time last year.

Numerous economic recovery tax credits are also still available. The IRS reminded taxpayers that for some credits, such as the Making Work Pay Credit, individuals must claim the $400 ($800 for married couples) in order to receive it. (Use Schedule M to calculate Making Work Pay credit.)

Usually, 20 to 25 percent of all taxpayers file in the final two weeks of the tax season. And, usually, about 7 percent of taxpayers seek a six-month extension to file.

Taxpayers have an extra weekend to file this year because of a District of Columbia holiday. The deadline for 2011 is Monday April 18, instead of April 15.

The latest filing season statistics from the IRS are below:

 

 

2011 FILING SEASON STATISTICS

Cumulative through the weeks ending 03/26/10 and 03/25/11

Individual Income Tax Returns

2010

2011

% Change

Total Receipts

 82,533,000

82,276,000

-0.3%

Total Processed

77,812,000

80,318,000

 3.2%

 

 

 

 

E-filing Receipts:

 

 

 

TOTAL

66,542,000

71,067,000

 6.8%

Tax Professionals

42,354,000

44,712,000

 5.6%

Self-prepared

24,188,000

26,355,000

 9.0%

 

 

 

 

Web Usage:

 

 

 

Visits to IRS.gov

141,109,467

151,305,611

7.2

 

 

 

 

Total Refunds:

 

 

 

Number

68,587,000

69,955,000

 2.0%

Amount

$204.260

Billion

$206.477

Billion

 1.1%

Average refund

$2,978

$2,952

-0.9%

 

 

 

 

Direct Deposit Refunds:

 

 

 

Number

54,738,000

57,251,000

 4.6%

Amount

$175.038

Billion

$179.827

Billion

  2.7%

Average refund

$3,198

$3,141

 -1.8%

 

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