IR-2016-80, May 26, 2016
WASHINGTON — The Internal Revenue Service today announced that the spring 2016 issue of the Statistics of Income Bulletin is available on IRS.gov featuring preliminary data about individual income tax returns filed for Tax Year 2014. The Statistics of Income (SOI) Division produces the online Bulletin quarterly, providing the most recent data available from various tax and information returns filed by U.S. taxpayers.
The spring 2016 issue includes articles on the following topics:
- Individual Income Tax Returns, Preliminary Data, 2014: For Tax Year 2014, taxpayers filed 148.7 million U.S. individual income tax returns, an increase of 0.6 percent from the prior year. Several notable items showed significant increases in 2014. Adjusted gross income (AGI) rose to $9.7 trillion, an increase of 6.1 percent compared to the prior year. Taxable income also increased appreciably by 8 percent to $6.9 trillion in 2014, as did total income tax, which rose by 10 percent to $1.4 trillion.
- Municipal Bonds, 2012-2013: Municipal bond issuances in 2012 and 2013 totaled $918.4 billion. Almost all of those issuances (99.6 percent) were tax-exempt bonds. Governmental bonds financed almost $729.6 billion in public projects such as schools, transportation infrastructure, and utilities in 2012 and 2013, while private activity bonds accounted for the remaining $185.3 billion of all tax-exempt bonds over the same period.
SOI Bulletin articles are available for download at IRS.gov/taxstats. For more information about these data, write to the Director, Statistics of Income (SOI) Division, RAS:S, Internal Revenue Service, 1111 Constitution Avenue NW, (K-Room 4112), Washington, DC 20224.