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Tax season is outperforming last year.

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Summary of Tax Filing Season Statistics

TLDR:

– Number of individual income tax returns received by the IRS surpassed last year’s numbers by 0.2% as of March 29, 2024
– Average direct deposit refund amount increased by 5.3% compared to 2023

This tax season, the number of individual income tax returns received by the IRS finally exceeded the same period last year, showing a 0.2% increase with 90,315,000 returns filed in 2024 as opposed to 90,111,000 in 2023. This could have been even higher, but the filing season was shortened to 61 days compared to 68 days the previous year. Additionally, the average direct deposit refund amount saw a 5.3% increase to $3,124 during the same period in 2023.

Other key highlights from the article include:

  • IRS data showing statistics for the filing season up to March 29, 2024
  • Overview of tax season progress compared to previous years
  • Updates on average direct deposit refund amounts

It is evident that the 2024 tax season has been showing positive trends in terms of the number of returns filed and the refund amounts compared to the previous year. The shortened filing season did not seem to hinder taxpayers’ willingness to file their returns on time.


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