Week in Insights: Staying Up-to-Date With Key Tax Information

When tax season officially ends next week in the U.S.—with no extension from IRS this time, as compared to 2020 and 2021—it will have been 85 days since it began.

A lot has happened during that time.

As of April 1, taxpayers have filed 91,260,000 individual federal income tax returns. Most of those returns were filed electronically, with just over half of those prepared by tax professionals. And the IRS has issued 63,357,000 corresponding tax refunds totaling $204.45 billion, delivering an average tax refund of $3,226.

Those feel like ordinary numbers in what has been a most extraordinary year.

But ...