Taxpayers throughout the nation will be rushing to file their taxes today. In the past April 15th meant long lines at the post office; however, with today’s technology and tax filing software such as Turbo Tax filers can file their taxes from the comfort of their homes.
The good news is that many filers will receive refunds at both the federal and local levels. According to taxpayer data from tax year 2012, there were 192,997 taxpayers that received both a federal and District refund. The average refund from the District was $990 compared to the average federal refund of $2,933. The table below provides a more detailed description of the refunds by income category.
- Even though they were the smallest group, those in the highest income category of over $1 million received the highest average refunds at both the local and federal level. Their combined average refund was over $100,000. See related post for Profile of high-income earners.
- The greatest share of the total federal and DC refunds was given to those District filers in the $10,000 – $40,000 income category
What exactly is the data?
The data used was from the District’s individual income tax database and the Internal Revenue Service’s (IRS) tax data for DC for tax year 2012.
Robert Zuraski contributed to this post