Insight Report 3 minutes Premium2019 Tax Tracker #2: Year-over-Year Decline in Tax Filings Starts to Moderate Coresight Research February 20, 2019 Executive SummaryThe U.S. Internal Revenue Service (IRS) tracks tax return filings on a weekly basis. As of February 8, the IRS had received 28.8 million tax returns, down 6.9% year over year. A total of 11.4 million refunds had been issued as of that date (down 15.8% year over year), totaling $22.2 billion (down 23.2% year over year) and averaging $1,949 (down 8.7% year over year). The drop is in returns filed is likely due to confusion from tax law changes, combined with reduced availability of IRS agents due to the government shutdown. Given a solid U.S. economy, higher wages and employment rates, total refunds are likely to be higher in 2019, once the disruption from the government shutdown is resolved. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Data Dive: UK Retail Sales Outlook 2023June 2023 US Retail Traffic and In-Store Metrics: Recovery Stalls as In-Store Sales Dip FurtherE-Commerce for the Modern Consumer: Building Trust in a Digital AgeThree Things You Need To Know: Metaverse Pioneers—Fashion—The Web 3.0 Strategies of Adidas and NIKE
