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Latest Business News

IRS: More People E-Filed Tax Returns

Tuesday, May 15, 2007 10:14:21 AM

WASHINGTON (AP) - A record 77 million taxpayers have filed their tax returns electronically this year, the Internal Revenue Service said Tuesday.

The IRS also said that as of May 4, the average refund this year was $2,255, up 2.5 percent over the same time last year. More than 59 million refunds were deposited directly into savings, checking and brokerage accounts, more than 61 percent of all refunds issued. This year the IRS permitted direct deposit of refunds into as many as three separate financial accounts.

The IRS said those choosing direct deposit got refunds at least a week sooner than others.


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