IRS Releases Mid-Year Filing Stats
The IRS reports that it processed 140,024,061 returns from last season through July 30.
The figures cover number of returns processed and adjusted gross income, tax liabilities and percentages of filers’ income composed of capital gains.
As of the end of July, the IRS had processed the largest number of returns for taxpayers with annual AGI of $50,000 to $75,000, $100,000 to $200,000, and $30,000 to $40,000.
The figures in the service’s latest report present partial information from the population of all 1040s processed by the IRS at three points in the annual filing season: late May, mid-July and mid-November.
The latest figures primarily constitute approximately 95 percent of all returns that will be processed by the IRS in the calendar year and reflect 87 percent of the total AGI and 82 percent of total tax liability. Returns filed primarily reflect income earned in the year preceding the filing year but exclude taxpayers who requested a six-month extension.