CHARTS & GRAPHS

Tax Refunds Up 18% Early On

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Most other tallies are down by around 7 percent.

By Beth Bellor

Once again, refunds are up and everything else is down in the world of individual income tax returns.

MORE: First Tax Filing Reports Are In
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At the close of the second week of tax season, the IRS had received 23.6 million returns, down 7.7 percent from the same week in 2024. It had processed 23.5 million returns, down 7.6 percent, which includes returns received in 2024 or 2025 and processed this year.
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First Tax Filing Reports Are In

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* Total tax returns processed includes returns received in the prior or current year and processed in 2025. # Total refunds issued represents refunds for returns received and processed in 2025, which reflects current year returns only. However, the number of direct deposit refunds represents refunds for both current and prior year returns processed in 2025, which makes this figure larger than the “total number of refunds” listed for the current year.

 

Refunds are up; everything else is down.

By Beth Bellor

The first week of tax season is over! Cue the applause!

Some of you seem less than excited. We know it’s early. All too early.

MORE: Steve Yoss: Unlocking Business Insight with Power BIs | Quick Tax Tip | More Than 1 Million ERC Claims Still Not Processed | Art Werner: The Godfather and Tax Issues | Quick Tax Tip | Advanced Tax Preparers Need Managing, Too | The Top Ten Problems the IRS Still Needs to Fix | Tax Pros Gear Up for a Better Busy Season | IRS Processing Up; Payouts Down | Help Tax Clients Help You | Four Challenges of Managing New Tax Preparers
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Still, it’s time to begin our weekly tally of how things are going, starting with 13.2 million individual income tax returns received as of Jan. 31, down 14 percent from the same period in 2024. The total returns processed was 11.7 million, down 15.8 percent.
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Accounting Profession Sees Some Job Losses

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Overall accounting profession employment

 

Payroll earnings up 11 percent.

By CPA Trendlines Research

A bit up here, a bit down there is the story for January employment figures, the most recent data available. Professional and business services saw little change, total nonfarm payroll employment rose by 143,000 and the national unemployment rate ticked down to 4.0 percent.

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There are 1,144,700 people employed in the accounting profession as of January, up 600 for the month but down 9,500 or 0.8 percent for the year. They average 35 hours, down 6 minutes for the month and 1 hour or 2.8 percent for the year. They earn $42.79, up 12 cents for the month and $1.58 or 3.8 percent for the year.
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IRS Processing Up; Payouts Down

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Figures for 2024 topped those of 2023 until it came to refunds.

By Beth Bellor

As the 2025 busy season kicks off and we wait for the first individual income tax return reports to trickle in, let’s take a peek at how the last drips of 2024 compared to the dregs of 2023.

MORE: Tax Pros are Making Changes for a Better Busy Season | IRS Funding Pays Eye-Popping 415x ROI | Tax Season 2025 Begins. Ready or Not. | Every Tax Reviewer Should Be Able to Answer These Ten Questions | Art Werner: Corporate Transparency Act and FinCEN Reporting | Taxpayer Advocate Sees Big Improvements at IRS | Ask Tax Clients the Right Questions | Major Changes to Circular 230: Implications for Tax Professionals | Cornerstone Report | Art Werner: Due Diligence and IRS Enforcement | Make ‘Done But’ Tax Returns a Thing of the Past | Six Methods for Getting Paid Faster This Tax Season | Use Humor to Get Tax Documents in Early
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By the end of 2024, the Internal Revenue Service had received 163.5 million returns, up 0.9 percent from the end of 2023. It had processed 163.5 million returns, up 0.3 percent, which included returns received in the prior or current year and processed in the calendar year.
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Show Us the Money! Accountants Are Making More

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young woman holding giant dollar sign in modern office

Want to retain employees? Here’s one way.

By Beth Bellor

More money. That’s what the latest data show for the accounting profession.

The final jobs report of 2024 saw the accounting profession’s numbers slip a bit, but the bodies in those seats were pulling down record earnings. Employees in the profession overall, at CPA firms and non-staff in payroll services saw their highest hourly wages ever.

MORE: Survey Says 57% of Firms Are Raising Prices Next Year | How Accounting Firms Are Handling the Staff Shortage | More Big Firms Shut Their Doors to New College Grads | Seven Enticements to Keep Talent On Board | Despite Staffing Crunch, Firms Freeze Pay Raises
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And about time! We heard the call for better compensation in the most recent Rosenberg National Survey of CPA Firm Statistics.
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