SOI Tax Stats - SOI Bulletin: Summer 2023


Statistics of Income (SOI) Bulletin, Summer 2023 (Publication 1136)PDF

The Statistics of Income Bulletin is issued quarterly by the Statistics of Income Division of the Internal Revenue Service. This report provides the earliest published annual financial statistics obtained from the various types of tax and information returns filed, as well as information from periodic or special analytical studies of particular interest to students of the U.S. tax system, tax policymakers, and tax administrators.

Featured Articles

Individual Income Tax Returns, Preliminary Data, Tax Year 2021PDF

by Michael Parisi

This article presents selected income and tax items from individual income tax returns using preliminary data for Tax Year 2021 and comparable data for Tax Year 2020. The preliminary statistics in this data release are based on a stratified random sample of U.S. Individual Income Tax Returns (Forms 1040 and 1040-SR). These preliminary estimates are intended to represent a full year of taxpayer reporting based on returns processed for tax administration purposes from January to late September of 2021. To release more complete and accurate statistics that are closer to final ones, a new methodology was introduced modifying the preliminary data by applying a rolling 3-year average for the table in this release. For each AGI class cell, the rates of change from preliminary to final data for each of the prior 3 years were calculated and then averaged. This average was then applied to the current year preliminary data to calculate the estimated preliminary data. The totals were then created from the various cell parts. For Tax Year 2021, taxpayers filed 160.4 million U.S. individual income tax returns, which were filed primarily in 2022, a decrease of 2.3 percent from the 164.2 million returns filed for Tax Year 2020. For 2021, adjusted gross income (AGI) increased a very significant 18.6 percent to $14.9 trillion. This increase in AGI was reflected by increases in some components of income, highlighted by net capital gains increasing 67.2 percent. Other components that grew included taxable income from IRA distributions (44.6 percent), business or profession net income less loss (34.2 percent), ordinary dividends (19.6 percent), salaries and wages (8.5 percent), and taxable income from pensions and annuities (6.4 percent). Taxable income also increased by 20.5 percent to $11.7 trillion for 2021. Similarly, total income tax increased by 29.4 percent to $2.2 trillion, and total tax liability increased by 29.2 percent to $2.3 trillion.

Excel Tables:

Table 1XLS

Related Link: Individual Income Tax Returns, Preliminary Data

Foreign Recipients of U.S. Income, Calendar Year 2019PDF 

By Scott Luttrell

U.S.-source income payments to foreign persons, as reported on Foreign Person's U.S.-Source Income Subject to Withholding (Form 1042-S) rose to $1.1 trillion for calendar year 2019. This represents an increase of 6.2 percent from 2018. Withholding taxes on this income decreased by 1.4 percent as 89.8 percent of all U.S.-source income paid to foreign persons was exempt from withholding tax. Taxes on the residual U.S.-source income subject to tax were withheld at an average rate of 16.4 percent.

Excel Tables:

Table 1XLSX Table 2XLSX Table 3XLSX

Related Link: Foreign Recipients of U.S. Income Statistics