Direct-deposit refunds nationwide this year have passed the $100 million mark, the U.S. Internal Revenue Service reports, as a growing number of taxpayers opts to receive their refunds electronically rather than via a paper check.
“Taxpayers are choosing direct deposit of refunds at a record pace [and] electronic filing has increased over last year,” IRS Commissioner Mark W. Everson said in a statement.
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As of March 2, 35.6 million taxpayers had chosen to have refunds deposited directly into a savings or checking account, an increase of 5.2 percent over the same time last year. Their refunds totaled $101.5 billion, or 8.7 percent more than the direct-deposit total by the same date in 2006.
Electronic filing is also on the rise nationwide, with e-Filing accounting for 76 percent of all returns so far this season versus 73 percent in the same period last year.
“In addition, I want to encourage people to take advantage of the telephone excise tax refund if they are eligible,” Everson said. “Far too many people who qualify for this special refund are not claiming it.” To check whether you are eligible, visit the Telephone Excise Tax Refund section of IRS.gov.
Local numbers for direct deposits were not available, but as of Friday, the IRS had received 192,037 current-year tax returns from Rhode Islanders, 49,732 or 25.9 percent paper and 142,305 or 74.1 percent electronic, according to Peggy Riley, IRS media relations specialist for New England.
Among returns that were e-Filed, 36,180 or 25.6 percent were filed by the taxpayeronline and 106,125 or 74.6 percent were filed by paid preparers.
Current and past-year tax forms and instructions are available on the Forms and Publications page at IRS.gov or by calling (800) TAX-FORM (1-800-829-3676). Taxpayer assistance is available at (800) 829-1040.
