Insight Report 3 minutes Premium2020 Tax Tracker, Week 5: Tax Refunds Down Versus Last Year Coresight Research March 11, 2020 What's InsideAs of week five of the US tax-refund season, volumes of refunds are returning to normal after a one-week aberration in which the number and value of refunds was down significantly over last. However, week-five statistics show a decline in the total value of tax refunds. We review the data published by the Internal Revenue Service. Meanwhile, a consumer survey revealed some interesting insights into taxpayer behavior and perceptions: Nearly 45% of those who hire a tax preparer only “glance” at the return. Around 16% sign without reviewing at all. Over half (54%) incorrectly believe the tax preparer is responsible for defending an audit. Almost 36% incorrectly believe tax preparers are responsible for additional payments in case of preparer errors. Millennials and Gen Zers are more likely than any other age group to file a paper return. 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: Three Data Points We’re Watching This Week, Week 8Responses to Inflation—Trading Down in Food and Nonfood Remains a Critical Shopping Strategy: US Consumer Survey InsightsThree Data Points We’re Watching This Week, Week 10: Inflation, Tariffs and Consumer SentimentA Guide to NRF 2025: Retail’s Big Show—Six Game Changers Set to Reshape Retail
