April 28, 1993
Last-Minute Returns Close the Filing Gap
WASHINGTON - A flood of last minute filings has almost
completely closed the gap in tax returns between last year and this -- a gap which grew to
nearly five million the week before the April 15 deadline.
The Internal Revenue Service had received 104.1 million returns as of April 23, just
shy of the 104.7 million for the same period last year. The IRS had also counted over 3.6
million extension requests as of the date, compared to almost 3.1 million last year.
Taxpayers who missed the deadline should file as soon as possible to reduce interest
and penalty charges. The interest rate is currently 7 percent a year, compounded daily.
The late filing penalty is 5 percent per month of any taxes not paid by April 15. There is
no penalty if you have a refund coming, but you lose the refund if you file more than
three years late.
IRS workers processed nearly 10.2 million payments, worth $22.4 billion, during the
past two weeks. Although individuals pay around half-trillion dollars in income taxes each
year, the vast majority of the money comes through withholding or estimated payments, not
with the tax returns themselves.
Many who could not pay their taxes asked for installment plans when they filed their
returns. As of April 17 -- before most final-week returns even reached the processing
centers -- the IRS had logged over 135,000 installment requests. Some were on the new Form
9465. Others were just notes proposing monthly payment amounts and due dates. The IRS will
notify requesters of the receipt of their plans within 30 days.
The IRS has sent 56.2 million refunds, worth a total of $54.9 billion. These are 3.8
million fewer refunds than at this point last year, reflecting this season's slower filing
pace. At $978, the average refund is down 0.4 percent.
1993 FILING SEASON STATISTICS
Cumulative through the week ending 4/24/92 and 4/23/93
1992 1993 % Change
Individual Income Tax Returns:
Total Receipts 104,742,000 104,090,000 -0.6
Total Processed 75,559,000 70,273,000 -7.0
Filing Alternatives -- Total Receipts:
Electronic Filing 10,850,000 12,272,000 13.1
1040PC Format 1,373,000 4,185,000 204.8
TeleFile 126,000 149,000 18.3
Refunds Certified by the Martinsburg Computing Center:
Number 59,959,000 56,156,000 -6.3
Amount of Principal $58.909 billion $54.931 billion -6.8
Average Refund $982 $978 -0.4
(NOTE: these amounts should NOT be compared to the "processed"
numbers above, since those figures reflect Service Center
processing, which is completed at least a week before refunds
are certified at the Computing Center)
Taxpayer Service Filing Season Statistics
through 4/2/92 through 4/3/93
calls answered 18,160,351 18,250,145
Tele-Tax calls 29,349,213 25,080,615
Technical tapes 4,300,625 4,318,089
Refund Info. 25,048,588 20,762,526
Previous | Next
1993 IRS News Releases | News Releases Main | Home