For all of us ordinary wageearners who file our income tax returns on a calendar-year basis in April, it's that time of year again. Of course, it is also that BUSY time of year for tax return preparers, but they don't usually complain (much) since it is also a quite profitable time for them.
The IRS reminded everybody in IR-2011-35 that the deadline this year is just two weeks away, on April 18. (It's April 18 rather than the 15th because of a District of Columbia holiday.) And about 70% of taxpayers (those with $58,000 or less) can use the "IRS Free File" service to file the return or an extension. Go to the release and linke above for more on the free file process for 2011.
How are returns going so far? According to the release:
As of March 25, the IRS has received more than 82 million individual income tax returns, which is 58 percent of the 141 million returns expected this year. The IRS has received about the same number of returns so far this year as it did at this time last year, while processing of returns is up 3 percent from the same time last year.
Usually, 20 to 25 percent of all taxpayers file in the final two weeks of the tax season. And, usually, about 7 percent of taxpayers seek a six-month extension to file.
Many taxpayers will get a refund. One last tidbit of information on the filing season so far--the average refund is $2,952.