Tax Returns Processing
Online Filing of Tax Returns
According to CNET, as the 2024 tax season nears its end the IRS is busy handling tax returns and giving back money although it’s not as much as last year. Even though it started six days later than in 2023, the IRS has already processed over 61.8 million tax returns by March 8, which is a bit less than last year. Most people are filing their tax returns online with over 61.1 million returns sent electronically showing that online filing is quick and easy.
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Tax Refund Trends
Despite the IRS giving out more than 43 million refunds by March 8 which is less than last year the average tax returns amount has gone up by 5.8%. The IRS has refunded over $135.2 billion in the first five weeks of the tax year which is less than last year. But the IRS says the 2024 tax season is going well with everything running smoothly. While it might be a bit different from last year because of the start dates the IRS is still working hard to process tax returns and give refunds on time. With the tax season getting close to the end it’s a good idea to file your tax returns online and choose direct deposit for your refund to make sure everything goes smoothly.