May 31, 1996
IRS Issues Spring 1996
Statistics of Income Bulletin
WASHINGTON - For 1994, taxpayers filed 116.1 million individual
income tax returns, up 1.5 million from 1993. Adjusted gross income
(AGI) increased by 5.0 percent to $3.9 trillion, more than twice the
growth rate for 1993, according to the Spring 1996 issue of the
Internal Revenue quarterly publication, the Statistics of Income
For 1994, salaries and wages rose 4.9 percent or $141.0
billion; taxable social security benefits increased 57.0 percent;
IRA distributions rose 22.0 percent; partnership and S Corporation
net income (less loss) increased 19.3 percent; and unemployment
compensation decreased 27.1 percent.
S Corporations, in which shareholders are taxed on their share
of the profits at the individual rates, continued to grow in number
to 1.9 million -- almost half of all corporation income tax returns
in 1993. Tax-exempt organizations filed 5 percent fewer income tax
returns to report their "unrelated business income," from 32,690 for
1991 to 31,122 for 1992. The tax these organizations reported
totaled $132.4 million.
The Spring 1996 Bulletin also presents an analysis of trends in
form of business organization based on tax return statistics for
1985-1992, as well as selected personal income, deduction, and tax
data by state for Tax Year 1994. The state data are classified by
size of adjusted gross income.
The Statistics of Income Bulletin is available from the
Superintendent of Documents, U.S. Government Printing Office, P.O.
Box 371954, Pittsburgh, PA 15250-7954. The annual subscription
rate is $30 ($37.50 foreign) for four issues; single issues cost $15
($18.75 foreign). For other statistical information, write to the
Director, Statistics of Income Division CP:R:S:S:P, Internal Revenue
Service, P.O. Box 2608, Washington, DC 20013-2608; dial its
electronic bulletin board at (202) 874- 9574; or telephone its
statistical information services office at (202) 874-0410.
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