Tax Season Opens with Refunds Up 85%

data tableNearly two-thirds of returns have been self-prepared.

By Beth Bellor

The latest tax season is off to a roar, with refunds up 85 percent and processing up 29 percent above last year at this time.

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As of Feb. 3, the end of the first week of collections, the IRS had received 19 million individual income tax returns, up 13.5 percent from the same week in 2022. It had processed 16.8 million returns, up 29.1 percent.