Tax Season 2024: IRS Processes $3.6 Billion In 2024 Tax Returns Within First Week

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More than 2.6 million American taxpayers have received tax refunds this Tax Season 2024 as of Feb. 2, 2024, according to the IRS.

Tax Season 2024: IRS Processes $3.6 Billion In 2024 Tax Returns Within First Week
Tax Season 2024: IRS Processes $3.6 Billion In 2024 Tax Returns Within First Week (Photo: The Pride LA)

 

2024 Tax Season: IRS Updates

Two weeks have passed since the 2024 tax season kicked off and taxpayers are already receiving their tax refund money for the 2024 tax season from the IRS.

The IRS said taxpayers can normally expect to receive a refund for the 2024 tax season within 21 days if they file electronically and choose direct deposit. But by last Friday, just five days into 2024 tax season filing, the agency issued 2.6 million tax refunds.

The IRS has issued 2.6 million tax refunds as of February 2, 2024, down 67.3% from the 7.9 million it had sent out to taxpayers by Feb. 3, 2023, this 2024 Tax Season.

Read Also: Social Security Maximum Taxable Earnings Increase By 5.2%: SSI, SSA, SSDI, And VA

How many tax returns have been processed so far in the 2024 Tax Season?

As of Feb. 2, 2024, the IRS has processed 13.9 million federal income tax returns this 91923922, down 16.9% from the 16.7 million it got through this time last year.

Of the 15.3 million returns received so far, all but 409,000 were filed electronically, the agency said 4.8 million from tax preparers and another 10 million from self-preparers.

Read Also: Social Security Payment Schedule For Disabled And Social Security Retirees Is Being Announced By The Government: Check It Now!

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