Next Question: How’s Tax Season So Far?
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By Beth Bellor
CPA Trendlines
It’s a shiny new tax season, and that means more shiny new filing data from the IRS.
MORE TAX SEASON 2017: FREE INSTANT DOWNLOAD: Sample fee schedule for 1040s | Tax Filings Down, but IRS Blames the Calendar | Survey Results: Busy Season 2017 Gets Off to Strong Start | 2017 FEE SURVEY: Price for Non-Itemized 1040s Advances 6% to $176 | The Annual Tax Meeting is Dead. Clients Killed It. | Reader Sound-Off: Mandatory Saturdays Stir Controversy
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Of course, since it comes from the IRS, it also has its own set of footnotes and qualifiers. For one, even though we’re comparing the week ending Jan. 27, 2017, with the week ending Jan. 29, 2016, the 2016 figure included four more days of tax return processing – although when comparing identical numbers of days, 2017 marks an increase. For another, the new law requiring a hold on refunds involving the Earned Income Tax Credit and Additional Child Tax Credit until Feb. 15 is skewing early season refund numbers and dollar amounts, because many taxpayers claiming these credits are early filers.
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