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Tax Refunds On The Way

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A 2011 U.S. Individual Income Tax Return form is seen in New York April 17, 2012. REUTERS/Shannon Stapleton
A 2011 U.S. Individual Income Tax Return form is seen in New York April 17, 2012. REUTERS/Shannon Stapleton

 

Are you thinking It’s about time Uncle Sam. The Internal Revenue Service is catching up on processing 2012 tax returns.  That means refunds could be on the way.  Many Americans filed their returns later than usual this year because of tax decisions Congress made at the very end of last year. 

Those last-minute decisions pushed back the date when the IRS could start processing returns. The average 2012 federal tax refund this year is just over 28-hundred dollars or slightly less than last year.  The government has issued direct deposit refunds totaling 171-billion dollars.  More than 72-million taxpayers have filed electronic returns so far this year, compared to about 75-million for the same period 

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