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FastFact: E-Filing Quickly Adds Billions to Taxpayer Bank Accounts
June 5,
2017 by Larry Thomas in Economic News, Industry 
The popularity of e-filing federal tax returns has put refund money into consumers’ pockets more quickly than ever, pumping some $318 billion into the economy in 2016, according to new data from the Internal Revenue Service.
The IRS said 91% of federal returns were filed electronically last year, up from just 30.7% in 2001. And the typical refund was deposited into the taxpayer’s bank account nine to 14 days after filing.
For an in-depth look at the IRS data, click here.