Insight Report 3 minutes Premium2019 Tax Tracker #4: Filings Catch Up and Average Refund Now Up Year Over Year Coresight Research March 5, 2019 Executive SummaryThe US Internal Revenue Service (IRS) tracks tax return filings on a weekly basis. As of February 22, the IRS had received 49.9 million tax returns, down 3.5% year over year. A total of 38.6 million refunds had been issued as of that date (down 4.8% year over year), totaling $121.2 billion (down 3.6% year over year) and averaging $3,143 (up $40 or 1.3% year over year). The continuing slow rate of filing is likely due to confusion from tax law changes, combined with reduced availability of IRS agents due to the government shutdown. Given a solid US economy, higher wages and employment rates, total refunds are likely to be higher in 2019, now that the disruption from the government shutdown has been resolved. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Consumers Report Strong Financial Health: US Consumer Survey InsightsApril 2023 US Housing Market Indicators: All Home Sales See Year-Over-Year DeclinesRetail Shrink and ORC: Is Self-Checkout on the Way Out? US Retailers Scale Back To Fight TheftFurther Stimulus Measures—Are They Moving the Needle on Sentiment?: China Consumer Survey Insights
