December 02, 1996
IRS Issues Fall Statistics of Income Bulletin
WASHINGTON - The Internal Revenue Service has resumed publication of excise tax statistics with data available for Fiscal
Years 1994 and 1995. Excise taxes collected by IRS in Fiscal Year
1995 totaled $45 billion, up from $43 billion in 1994. The total
includes taxes on gasoline of $19.9 billion, diesel fuel $6.7
billion, air transportation $4.9 billion and telephone and teletype
services $3.8 billion. Another $11.8 billion in excise taxes were
collected by the Bureau of Alcohol, Tobacco and Firearms.
Statistics about unincorporated businesses for 1994 show that
profits of the 16.2 million nonfarm sole proprietorships were $166.8
billion, 7 percent more than 1993, while profits of the 1.5 million
partnerships increased 23 percent to $82.2 billion.
The earned income credit claimed on 1995 returns filed through
April 1996 increased to $24.8 billion from $19.9 billion on 1994
returns according to the Fall 1996 issue of the Statistics of Income
Bulletin. About 18.3 million low-income wage earners claimed the
credit, compared to 17.7 million the year before. Data from 1995
individual income tax returns show that adjusted gross income
totaled $3,670.6 billion, up 6 percent over 1994 filings through
April 1995. As a result income tax after credits increased to
$485.1 billion, 8 percent over 1994.
The Statistics of Income Bulletin is available from the
Superintendent of Documents, U.S. Government Printing Office, P.O.
Box 37194, Pittsburgh, PA 15250-7954. The annual subscription rate
is $30 ($37.50 foreign); single issues cost $15 ($17.50 foreign).
For other statistical information, write the Director, Statistics of
Income Division CP:R:S:S:P, Internal Revenue Service, P.O. Box 2608,
Washington, DC 20013-2608; dial the Statistics of Income electronic
bulletin board at (202) 874-9574 (e-mail at [email protected]);
call the statistical information services office at (202) 874-0410
(FAX 202-874-0964) or check the World Wide Web at
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