Tax preparers are at the pivotal mid-point of the 2023 busy season
With the start of the 2023 tax season in the rearview mirror, preparers are now setting their sights on the Tuesday, April 18th filing deadline set by the IRS (given Monday, April 17th is the Emancipation Day federal holiday).
But signs of a smooth season (relative to 2022) are already looking positive, according to a recent February 10th tax season assessment reported by Mark Friedlich, VP of Government Affairs for Wolters Kluwer Tax and Accounting US "The agency has sent over 13 million tax refunds, 48.4% more than the 8.9 million refunds it sent out last year. However, the average amount of refunds received by taxpayers was $1,997 for tax returns processed through February 10, compared to $2,323 during the same period in 2022. That is a reduction of 14% for the same period last year." Friedlich reported in a February 22nd article.
As we all know, there are still several weeks remaining for tax preparers to file returns for their clients, but with a good start by the IRS, tax preparers have the wind at their back as they race to a successful finish. And with the expectation of 168 million returns to be filed (of which 26.6 million had been filed as of a February 10th report) much more work remains to be done.
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