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December 4, 2013 10:59 am
E-Filing Up in 2013
Final statistics for the 2013 filing season (for 2012 income tax returns) show that e-filings increased by 2.5%. A total of more than 122 million returns were e-filed by tax professionals or by taxpayers using software and online options.
Refunds were down slightly. The average refund check was only $2,744, compared with $2,794 in the prior year. But use of direct deposit for refunds increased by 1.2%.
Source: IR-2013-94
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Deductions
Items directly reducing income. Personal deductions such as for mortgage interest, state and local taxes, and charitable contributions are allowed only if deductions are itemized on Schedule A, but deductions such as for alimony, capital losses, moving expenses to a new job location, business losses, student loan interest, and IRA and Keogh deductions are deducted from gross income even if itemized deductions are not claimed.
