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IRS Refunds Over $180 Billion

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    IRS Refunds Over $180 Billion

    According to a report released this week by the IRS, as of April 22 Uncle Sam had issued 84.7 million income tax refunds with an average of each being $2,144. This amounted nearly $182 billion in refunds.

    For the first time ever, more than half the people who filed tax returns did so electronically contributing to the quick turn around for refunds being issued. Filing electronically reduces the amount of time it takes a refund to be processed by as much as half. It is even quicker for those who combine electronic filing with direct deposit. Close to 66 million families filed their taxes electronically which is just over a 10% increase from 2003.

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    For those that haven't received their refund yet, you can find out where it is by going to the IRS website and the "<A HREF="http://www.irs.gov/individuals/article/0,,id=96596,00.html">Where's My Refund?</A>" page. This will allow you to see if the IRS has received your tax return, if your refund has been processed and if your refund has been sent out.
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