Self-prepared up by 5 million.
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By Beth Bellor
Even as coronavirus races across the globe, tax professionals appear to be gaining ground on Busy Season 2020.
More: Tax Pro E-Filings Lag by 512,000 Returns | Tax Pros Kick into High Gear | Slow Start for Tax Pro E-filing | Data Points Down as Tax Season Opens | The Fight for New Tax Clients
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At last count, tax practitioners handled more than half of efiled returns, though that's still behind last year by 532,000 returns. Self-prepared returns are up by 5 million as taxpayers race to collect their refunds.
As of the week ending March 13, the latest data released, the IRS had received 76.2 million individual income tax returns, up 0.4 percent from the same period in 2019. It had processed 73.5 million, statistically flat.
The agency had processed 96.5 percent of returns received.
E-filing made up 95 percent of all submissions. There were 72.3 million e-filed returns received, up 0.7 percent. Of those, 36.3 million came from tax pros, down 1.4 percent, and 36 million from DIYers, up 2.9 percent.
Professionals held 50.3 percent of the market.
There were 345.7 million visits to IRS.gov, up 7.8 percent.
Refunds numbered 59.2 million, down 1.1 percent, and totaled $176.1 billion, down 0.6 percent. The average refund of $2,973 was up 0.5 percent.
Direct deposit refunds numbered 51.5 million and totaled $159.8 billion, figures that were down 5.9 and 4.7 percent respectively. The average direct deposit refund of $3,105 was up 1.3 percent.
Direct deposit accounted for 86.9 percent of refunds and 90.8 percent of the total amount.