» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 127 | NO. 58 | Friday, March 23, 2012

Average IRS Refund This Year About $3K, Chief Says

AP

Print | Front Page | Email this story | Comments ()

WASHINGTON (AP) – That nice Internal Revenue Service refund check many families eagerly await this time of year is down slightly from 2011 but still not too shabby: an average of about $3,000.

Through March 10, the IRS has issued 59.2 million refund checks totaling $174.4 billion, agency chief Douglas H. Shulman told a House subcommittee Thursday. That compares to 59 million refunds totaling $178.3 billion a year ago.

Based on those figures, this year's checks average $2,946, down marginally from last year's $3,022.

An IRS spokesman said the agency isn't certain why the figure has dipped. He noted that the widely used Making Work Pay tax credit created by the 2009 economic stimulus law had expired and another credit for first-time homebuyers has been restricted.

Shulman told the House Ways and Means Committee oversight subcommittee that through March 10, the IRS has processed almost 71 million individual returns, a small increase.

Nearly 26 million filers prepared their own electronic returns, an 11 percent jump from 2011.

The agency has directly deposited 51 million refunds to taxpayers, up 3 percent.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 78 215 4,981
MORTGAGES 96 322 6,548
FORECLOSURE NOTICES 13 38 1,517
BUILDING PERMITS 223 541 11,800
BANKRUPTCIES 84 203 5,162
BUSINESS LICENSES 19 65 2,001
UTILITY CONNECTIONS 124 351 6,815
MARRIAGE LICENSES 21 65 1,406

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.