More e-filing of early tax returns
- By Mary Mosquera
- Feb 27, 2004
Electronic filing of taxes is up sharply this year because more individuals are using their computers to file returns, the IRS said today. Through Feb. 20, e-filing by computer and telephone reached 29 million returns, an increase of more than 8 percent over the same period last year.
More than 6.6 million taxpayers have e-filed from their computers, a 23 percent increase over last year. And tax professionals e-filed 20.1 million client returns, 5.6 percent more than last year.
By choosing to have refunds deposited directly to a bank account, e-filers can have their money in two weeks or less. The number of refunds is running 4.1 percent higher than last year and averaging $97 more'$2,292, a 4.5 percent increase.
Three out of four taxpayers receiving refunds had them deposited directly to their bank accounts, the tax agency said.
Mary Mosquera is a reporter for Federal Computer Week.