More than 7.9 million taxpayers e-filed their personal income tax returns by the deadline last month, a 200,000 increase over 2012, according to the state Department of Taxation and Finance. Eighty-seven percent of taxpayers had e-filed their income taxes by the end of April.
More than 5.3 million personal income-tax refunds totaling $4.75 billion were issued by the end of April, Thomas Mattox, state commissioner of taxation and finance, said in a statement. The average refund is $884. By the same time in 2012, 5.2 refunds totaling $4.26 billion had been sent out.
E-filed returns were processed faster this year than ever before, according to Mattox. The average time it took to provide a refund this year was 20 days, a 20 percent improvement over last year.
“E-filing is the easiest and most secure way to file tax returns, and results in the fastest refunds,” Mattox said. “It also saves tax dollars – since 2008 New York taxpayers have saved over $250 million dollars in processing costs as a result of electronic filing.”
E-filed returns are less resource-intensive and can be processed and checked for accuracy faster, he said.
All tax returns — paper or electronic — that were filed by the April 15 deadline are being processed, and returns are being issued daily, Mattox said.