The IRS has sent millions more tax refunds worth billions of dollars more to taxpayers this filing season than it had at the same time last year, according to new data.
The IRS has sent millions more
worth billions of dollars more to taxpayers this filing season than it had at the same time last year, according to new data.that it received 36.9 million returns as of mid-February. That’s up 2.6% from the 35.9 million returns it had received at this point in 2022. The bigger difference is in the number of tax returns the agency processed in the first few weeks of the filing season. The IRS says it had processed 36.8 million returns by Feb. 17, which is a nearly 10% increase compared to the same timeframe last year.
Partially as a result of processing more returns, the IRS has refunded 11.8% more money to taxpayers — $87.2 billion for the first part of 2023 versus $78 billion in 2022. The number of refunds so far is 27.8 million, which is 25.9% higher than the 22.1 million the IRS reports for the same period a year ago.
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