IRS Says Nearly 40 Million Tax Refunds Worth $125 Billion Issued Already - East Idaho News
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IRS Says Nearly 40 Million Tax Refunds Worth $125 Billion Issued Already

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Getty 022715 IRSRefund?  SQUARESPACE CACHEVERSION=1425059591304iStock/Thinkstock(WASHINGTON) — The Internal Revenue Service says it has already issued nearly 40 million tax refunds worth about $125 billion.

According to statistics released on Thursday — and accurate as of Feb. 20 — almost 50 million returns have been processed, with 83 percent of those resulting in refunds. The number of returns processed represents approximately one-third of those the agency expects to receive.

The IRS says 92 percent of refunds were directly deposited into the recipients’ accounts, which it recommends as a “safe, quick way for taxpayers to get their refunds.”

The average tax refund issued thus far this year is $3,120, the agency says.


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