The Internal Revenue Service announced the release of the fall 2005 issue of the Statistics of Income Bulletin.
The bulletin contains an in-depth look at the 130.4 million individual income tax returns filed for tax year 2003, a slight increase from the 130.1 million returns filed for tax year 2002. The adjusted gross income less deficit reported on these returns totaled just over $6.2 trillion, while taxable income totaled $4.2 trillion. The largest component of AGI was salaries and wages totaling just over $4.6 trillion. A total of $268.6 billion in business net income was reported on 14.4 million returns.
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