U.S. taxpayers filed 145.4 million individual income tax returns for tax year 2011, a 1.7 percent increase from 2010, according to newly released IRS statistics.
The IRS made available its Statistics of Income—2011, Individual Income Tax Returns (Publication 1304), on Tuesday. The report also showed that in tax year 2011, the adjusted gross income less deficit reported on those returns totaled $8.4 trillion, a 3.5-percent increase from the prior year.
The report is based on a sample drawn from the 145.4 million individual income tax returns filed for tax year 2011 and provides estimates of sources of income, adjusted gross income, exemptions, deductions, taxable income, income tax, modified income tax, tax credits, self-employment tax and tax payments. Classifications include tax status, size of adjusted gross income, marital status, age and type of tax computation.
A brief text reviews the requirements for filing tax returns, explains the changes in tax law and describes the sample used to produce the report. Publication 1304 is currently available for download at www.irs.gov/taxstats.
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