Each year, the US Internal Revenue Service (IRS) reports tax return filings and refunds on a weekly basis, from February until the April 15 filing deadline. Filings have likely been delayed due to confusion over the new tax rates and the government shutdown, which made it difficult for accountants to get answers to help people prepare income tax returns. After the second week of returns data, the year-over-year decline in the number of filings has moderated, indicating that tax filings are catching up. As of March 22, 2019:

• The IRS had received 84.1 million tax returns and processed 81.6 million of them. The number of returns received was down 1.9% from the corresponding date a year ago.
• Of the returns filed, 94.2% were electronically filed. Of those, 52.9% were prepared by tax professionals, the remaining 47.1% were self-prepared.
• More people are now using the IRS website to get information: the site logged about 339.9 million visits, up 10.7% from the year-ago period.
• Some 65.8 million refunds had been issued as of March 22, totaling $191.9 billion and averaging $2,915 each, down $10 from a year ago. The number of refunds issued was down 2.6% and the total amount refunded is down 2.9% year-over-year, and the average refund is down 0.3%.
• Of those refunds issued, 90.4% were paid using direct deposit. The average direct deposit refund was $3,030, down 1.0% from the corresponding date last year.

The IRS data are shown in the table below. [caption id="attachment_82481" align="aligncenter" width="640"] Source: IRS[/caption]   Given a solid US economy, higher wages and employment rates, total refunds should be higher in 2019, once the disruption from the government shutdown has dissipated. The graph below shows total annual refunds disbursed to consumers, which increased at a 1.5% CAGR during 2014-2018. [caption id="attachment_82482" align="aligncenter" width="640"] Source: IRS[/caption]   NRF Taxpayer Survey Highlights Savings, Debt Repayment and Everyday Expenses The NRF has been conducting its annual Tax Returns Survey since 2007 and recently released its 2019 survey conducted in partnership with Prosper Insights & Analytics. In the survey, of 7,729 adults aged 18 and older, nearly two-thirds (65%) of those surveyed expect to receive a refund. Among those expecting a refund:

• 22% expect their refund to be less than last year
• 48% expect it to be the same
• 29% expect it to be higher

In the survey, the top three expected uses for refunds were savings (50% of respondents expecting refunds said they would save the money), paying down debt (34%) and everyday expenses (22%). [caption id="attachment_82483" align="aligncenter" width="640"] Source: NRF's 2019 Tax Return Study, conducted by Prosper Insights & Analytics[/caption]