IRS releases initial filing statistics

(NBC) — Tax season is underway and the IRS has released their initial filing statistics.

The agency says the number of individual tax returns received dropped more than 12 percent in the first week, compared to last year.

The IRS also reports a sharp drop in the number of tax returns processed in the first week.

They say the number dropped 25 percent compared to 2018.

The agency also found a change in the average amount of tax refund money being paid out.

The average tax refund is about $1,865. Last year, the average tax refund was about $2,035.

The IRS says they also expect to issue fewer refund checks due to the changes in the tax law.

NBC News

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