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Sunday, May 29, 2016

2014 Statistics of Income

The IRS regularly releases information garnered from tax filings. For those with an interest in this sort of information, based on individual income tax returns for 2014:

  • Taxpayers filed 148.7 million U.S. individual income tax returns, an increase of 0.6% from 2013;
  • There were significant increases in adjusted gross income (AGI), which rose to $9.7 trillion (an increase of 6.1% compared to 2013);
  • Taxable income increased to $6.9 trillion (an increase of 8% compared to 2013); and
  • Total income tax rose to $1.4 trillion (an increase of 10% compared to 2013).
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