IRS Releases 1989 Income Tax Data

United States taxpayers filed 2.4 million more federal tax returns for tax year 1989 than for 1988. Adjusted gross income rose by more than $173 billion, 5.6 percent, over the same period, with taxable interest received and partnership and S corporation income showing the largest increases. The sum of income tax after credits and the alternative minimum tax rose 4.9 percent. These and other statistical data appear in IRS' annual report, "Statistics of Income--1989, Individual Income Tax Returns" (Publication 1304), available now.

The report is based on a sample drawn from nearly 113 million tax returns filed for tax year 1989 and provides estimates of taxpayers' income, deductions, exemptions, credits, and tax. a brief text reviews requirements for filing tax returns, changes in tax law, and a description of the sample used to produce the report.

Publication 1304 (Catalog Number 63338H), as well as other Statistics of Income publications, is for sale by the Superintendent of Documents, PO Box 37194, Pittsburgh, PA 15250-7954. Other statistical information services can be obtained by writing to the Director, Statistics of Income Division, R:S:P, Internal Revenue Service, PO Box 2608, Washington, DC 20013-2608, or by telephoning the Division at (202) 874-0410.

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