Personal Finance

Time to file taxes. Why the IRS should expect a lot of money from the Sacramento area

Sacramento is seen in this aerial photo. The metropolitan area has the third-highest percentage of people who owe on their taxes, according to a new report.
Sacramento is seen in this aerial photo. The metropolitan area has the third-highest percentage of people who owe on their taxes, according to a new report. rpench@sacbee.com

Tax time is officially here.

The IRS began accepting tax returns Monday and extended this year’s filing deadline by two days since the traditional day, April 15, falls on a Sunday.

Tax collectors should expect a lot of money coming from Sacramento. According to a report released this week, an even 22 percent of the area’s residents owe. That percentage ranks Sacramento third in the nation out of 100 metropolitan areas surveyed, one spot ahead of San Diego, which is at 21.7 percent, according to Brian Karimzad of MagnifyMoney.com.

MagnifyMoney’s report says people in the Sacramento area owe an average of $4,243 – a total that is more than $1,000 less than the national average of $5,294.

The metropolitan with the highest percentage of people who owe is San Francisco. About a quarter of the residents have to send Uncle Sam money, and the average is high: $7,226 to be exact. However, the city also has a high refund rate – the $3,466 they get back is the sixth-highest rate in the nation.

In Sacramento, about 72 percent of residents receive refunds. On average, they get $2,683 back. Nationally, 78 percent of filers are refunded an average of $3,052.

MagnifyMoney used information on tax returns filed between 2012 and 2016 to compile its numbers.

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