BobKamman
Level 15

Bloomberg reports this afternoon:

Just under a month into federal tax filing season, the IRS reported a 32% slide in the number of refunds sent out compared with last year, showcasing delays that have spurred Democrats to call for postponing the traditional April 15 deadline.


The drop-off in the number of refunds is partly a consequence of taxpayers filing nearly 12.3 million fewer tax returns so far this year compared with 2020, according to data released Thursday. The filing season, which began Feb. 12, started about two weeks later than usual, which has contributed to the slump.

The average refund size -- $2,990 -- has held relatively steady, only down $22.

The number of tax returns filed so far this year is down about 18% compared with a year earlier, and the IRS has processed nearly 25% fewer submissions so far. The figures include tax returns turned in as of March 6.

Key House Democrats have called for the Internal Revenue Service to delay the April 15 deadline and give taxpayers more time to file. Besides the disruptions from the pandemic, changes in tax law -- including some revisions President Joe Biden signed into law Thursday -- will mean some filers will have to wait for updated forms or resubmit their returns.

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