Statistics of Income (SOI) Bulletin - Spring 2017
(entire publication in PDF)
Individual Income Tax Returns, Preliminary Data, Tax Year 2015
By Michael Parisi
For Tax Year 2015, taxpayers filed 150.6 million U.S. individual income tax returns, an increase of 1.3 percent from the 148.7 million returns filed for Tax Year 2014. Several notable items showed increases in Tax Year 2015. Adjusted gross income (AGI) increased 5.2 percent, from $9.7 trillion to $10.2 trillion. This increase was supported by increases in salaries and wages (5.1 percent), partnership and S corporation net income less loss (12.7 percent), and taxable individual retirement arrangement (IRA) distributions (7.1 percent), along with several other income items. Also, total income tax increased by 7.0 percent, to $1.5 trillion.
Excel Tables: 1
Related Link: Individual Income Tax Returns
Individual Income Tax Shares, Tax Year 2014
By Adrian Dungan
For Tax Year 2014, taxpayers filed 139.6 million individual income tax returns, excluding returns filed by dependents. The average adjusted gross income (AGI) reported on these returns was $69,565, up from $65,314 for the previous year. Total AGI increased 7.5 percent to $9.71 trillion, while total income tax increased 11.6 percent to $1.37 trillion. For 2014, the AGI threshold for the top 50 percent of all individual income tax returns was $38,173 for the year. These taxpayers accounted for 88.7 percent of total AGI, and paid 97.3 percent of total income tax. The top 0.001 percent of tax returns had an AGI of $56,981,718 or more. These taxpayers accounted for 2.1 percent of total AGI, and paid 3.6 percent of total income tax. The average tax rate of 14.16 percent for all returns in 2014 was the highest of this 10-year study.
Related Link: Individual Income Tax Rates and Tax Shares