RI says tax refunds going out faster than in 2011

Associated Press

PROVIDENCE, R.I. (AP) — Rhode Islanders are getting their tax refunds sooner and in larger amounts so far this tax season.

Neil Downing, the state's chief revenue agent, says the state has issued 239,000 tax refunds so far in 2012, compared to 230,000 at this time last year.

Downing says more individuals are filing electronically, which results in faster refunds.

The average refund for 2012 so far is $517, compared to an average refund of $455 at this point in 2011.

The state expects to handle about 600,000 tax returns overall.

Last year, the state paid out nearly $230 million in refunds.