IRS Says Nearly 40 Million Tax Refunds Worth $125 Billion Issued Already
Published at(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.
Follow @ABCNewsRadio
Copyright © 2015, ABC Radio. All rights reserved.