Individual Income Tax Returns, Preliminary Data, 2012

May 30th, 2014
in econ_news

from the Internal Revenue Service (IRS)

14.9% Increase in Returns of AGI Exceeding $250,000

For Tax Year 2012, taxpayers filed 144.9 million U.S. individual income tax returns, a decrease of 0.4 percent from the 145.6 million returns filed for Tax Year 2011. This decrease occurred because of the large decline in returns filed by taxpayers in the smaller adjusted gross income (AGI) classifications. The largest decrease (3.9 percent) was a 1.5 million change in the number of returns with an AGI of under $15,000 (Figure A). Some of this was made up by an increase in the number of returns for all AGI classifications $50,000 or greater, with the largest increase (14.9 percent) being a 445.9 thousand change in the number of returns fi led with AGI’s of $250,000 and over. Despite the decrease in number of returns, adjusted gross income and several other notable items showed significant increases in 2012.

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