Refund Amounts Remain Lower than 2018

data chart
Cumulative through week ended March 29

Tax pros handling 54.3% of e-filings, down 2 points from year ago.

By Beth Bellor
CPA Trendlines Research

The pace of 2019 remains behind that of 2018 on most counts as the tax season stumbles to a close.

MORE: Who’d Like a Friend in the IRS? | Hello, IRS? Anybody Home? | Tax Pro E-Filing Off 2.7% from Last Year’s Pace | Tax Professionals File 38 Million Returns | Refunds Still Up, but Only by 0.7%
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The IRS had received 92.9 million individual income tax returns as of the week ending March 29, the last data available, down 1.4 percent from the same period last year. It had processed 90.3 million returns, down 2 percent.
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Tax Pro E-Filing Off 2.7% from Last Year’s Pace

Chart of IRS dataAverage refunds down 1%.

By Beth Bellor

As we wind down the misery that is the 2019 tax season, figures are down all over.

MORE: Wanna Change The Tax World? | Tax Season 2019 Serves Up a Taste of the Future | Tax Professionals File 38 Million Returns | The Big Free-File Flop | The Demise of Schedule A? | Refunds Still Up, but Only by 0.7%
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The number of direct deposit refunds is up, but otherwise the only “positives” are self-prepared e-filings and IRS website visits, hardly bright news.
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Tax Professionals File 38 Million Returns

Data chartMore than DIY’ers, but still behind last year’s pace.

By Beth Bellor

Many tax filing statistics remain on the negative side, but tax prep professionals hit a bright spot as they began outnumbering the DIYers.

MORE: The Big Free-File Flop | The Demise of Schedule A? | Refunds Still Up, but Only by 0.7% | Survey: Busy Season Goes Sour | Tax Refunds Up 1.7% | Lessons Learned: How the Federal Shutdown Hit Busy Season 2019 | Tax Refund Fury Roils Busy Season | Taxpayer Advocate Slams Congress over Funding

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As of March 15, the latest data available, the IRS had received 75.9 million individual income tax returns, down 2.5 percent from the same time last year. The agency had processed 73.5 million returns, down 2.4 percent.
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1.6 Million Tax Clients Gone Missing?

Chart of tax filing data for the week ending Feb. 8, 2019
^ Tax filing data for the week ending Feb. 8, 2019

Opening days show accountants filed only 40% of IRS intake. Blame the shutdown.

By Beth Bellor
CPA Trendlines

The IRS might have rushed into action as soon as the government shutdown ended, but it still is feeling the effects as all filing statistics remain on the downside two weeks in.

MORE: BUSY SEASON: Accountants Worry for U.S. Economy | Tax Shops Bulk Up for Big Busy Season | BUSY SEASON: The Busiest Ever? | Survey: Tax Season Launches with a Whimper | 16 Big Questions for Tax Season | SURVEY: Tax Accountants Alarmed by TCJA & Shutdown

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As of the week ending Feb. 8 – the latest data available – the Internal Revenue Service had received 28.8 million returns, down 6.9 percent from the same week in 2018. It had processed 27 million returns, down 10.2 percent, for a processing rate of 93.8 percent.

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Financial Planning and the New Tax Law

John Napolitano will be appearing at the Accounting & Finance Show. Click here to learn more.
Portrait of John Napolitano
Napolitano

C corp instead of S? Paying down mortgages? So many questions.

By John P. Napolitano
U.S. Wealth Management

The new tax act once again puts tax planning at the epicenter of financial planning. While most high-income taxpayers have always considered tax planning to be a core part of their financial plan and economic well-being, the Tax Cuts and Jobs Act makes a planning conversation between CPAs and their clients even more natural than it already was.

See more Accounting & Finance Show previews here

The biggest conversation piece for CPAs with high-end or business-owner clients is the rate reduction for businesses. This discussion starts out with an assessment of whether this provision will apply to your clients. READ MORE →

Tax Pro E-Filing Market Share Drops to 57%

Chart of e-filings by tax pros 2010-2018Self-preparers make gains, but there are still new clients to be had.

By Beth Bellor
CPA Trendlines

The 2018 busy season ended and tax pros lost a little bit more market share, following a trend that has continued nearly from the beginning of weekly IRS reports.

MORE ON TAX SEASON: Busy Season 2018: How Good Can It Get? | IRS in Retreat from Communities | SURVEY: New Tax Law Roils Busy Season

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As of April 20, the most recent week of reporting, e-filings of individual income tax returns totaled 124.5 million, up 1.9 percent. Tax professionals handled 71 million of those, down 0.8 percent. Self-preparers filed 53.5 million, up 3.4 percent.
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Tax Pros E-File 63 Million Returns through April 13

Chart of IRS filing dataAverage refunds remain positive even as totals are in the red.

By Beth Bellor
CPA Trendlines

With less than a week to go, tax processing slowed slightly.

MORE ON TAX SEASON: DIYers Outpace Pros in E-Filing Growth Rate | Pros Filing 55% of E-Returns | IRS in Retreat from Communities | SURVEY: New Tax Law Roils Busy Season | David Bergstein on Tax Season | Tax Accountants Fill the Breach of a Failing IRS | Artificial Intelligence Gets a Boost with Tax Reforms
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The IRS had received 118.6 million individual income tax returns as of April 13, the latest data available. That’s up 0.1 percent from the same week in 2017. It had processed 114.8 million of those, down 0.2 percent.
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