Electronic Tax Transactions Continue to Grow

WASHINGTON - Early tax returns continue to show taxpayers´ preference for electronic transactions, according to the Internal Revenue Service. The IRS has already received nearly 20 million of the 42 million electronic returns it expects this year.

Through February 16th, more than 62 percent of returns have come by computer or by phone, compared to 57 percent at this time last year. E-filing taxpayers benefit from more accurate returns and faster refunds.

Nearly 2.4 million taxpayers have e-filed from their personal computers – a 35 percent increase over the comparable period last year. Almost 14.5 million have gone to tax professionals for computer filing – about a seven percent increase.

Not only are more taxpayers sending their returns electronically, more are also getting their refunds that way. More than 15 million have had their refunds deposited directly to a checking or savings accounts – an eight percent increase. This accounted for nearly 70 percent of the 22 million refunds processed so far.

The total value of refunds has been $43.9 billion, with 80 percent of that amount delivered with the safety and convenience of direct deposit. The average direct deposit refund has been $2301, while the average of all refunds has been $1978.

2001 Filing Season Statistics

Cumulative through the week ending 2/18/00 and 2/16/01

                       2000               2001        % Change
Individual Income Tax Returns

Total Receipts      32,237,000         31,272,000       - 3.0 
Total Processed     24,827,000         24,144,000       - 2.8

E-filing Receipts:
TOTAL               18,432,000         19,438,000         5.5      
TeleFile (phone)     3,141,000          2,608,000       -17.0      
Computer            15,291,000         16,830,000        10.1 
Tax Professionals   13,546,000         14,470,000         6.8 
Self-prepared        1,745,000          2,360,000        35.2

Refunds Certified by the Martinsburg Computing Center:

Number              22,828,000         22,197,000        -2.8 
Amount of principal     43.205 B.         $43.910 B.      1.6 
Average refund           $1893              $1978         4.5

Direct Deposit Refunds:

Number              14,167,000         15,326,000         8.2 
Amount                 $32.215 B.         $35.267 B.      9.5 
Average                  $2274              $2301         1.2

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