IRS Reports Boost In E-Filing Numbers

by Mike Godfrey, Tax-News.com, Washington

02 March 2004

The US Internal Revenue Service revealed last week that electronic filing has shown a sharp increase for this year’s early filers.

The IRS has reported that through February 20, overall e-filing reached 29 million returns, an increase of more than 2 million, or 8%, over the same period last year. More than 6.6 million taxpayers have e-filed from their personal computers, a 23% increase.

“E-filing is off to another good start,” said IRS Commissioner Mark W. Everson. “More and more taxpayers are discovering the benefits of e-file.”

According to the Revenue’s figures:

• The IRS has certified 31.8 million refunds, an increase of 4.1% over the same time last year.
• The refunds total $72.8 billion, up from $66.9 billion.
• The average refund is up $97, to $2,292 — a 4.5% increase.
• Three out of four taxpayers receiving refunds had them deposited directly to their bank accounts. Direct deposit — the fastest, safest and most convenient way to get a refund — is available to all filers.

The IRS is striving to achieve a target of 80% of all returns filed electronically by 2007.

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