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 Bulletin.

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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