Individual Income Tax Returns, 1993 Early Tax Estimates

Indbridual IncomeTax Returns, 1993: EadyTax Estimates by Michael E. Weber arly estimates for Tax Year 1993, which are based on individual income tax returns filed through April E 1994, show that between 1992 and 1993 "adjusted gross income" (AGI) grew by 2.3 percent, from $3,254 billion to $3,328 billion; "taxable income" grew by 2.2 percent, from $2,103 billion to $2,150 billion; and total income tax increased by 4.9 percent, from $408 billion to . $428 billion. Much of the increase in total income tax . reflects the impact of the new marginal tax rates of 36 and 39.6 percent applicable to higher incomes. Of the sources of income, salaries and wages increased by 2.8 percent, roughly matching the 3.0 percent annual rate of inflation; taxable interest income fell 16.6 percent, reflecting the decline in interest rates; and dividend income increased by 7.4 percent. Itemized deductions remained essentially unchanged. The amount of "earned income credif'(EIC) claimed increased 17.4 percent, from $12.4 billion to $14.6 billion, at least partially reflecting a statutory liberalization of the EIC. Data for this article were derived from the "Early Tax Estimates," or ETE, a subset of returns included in the full sample used for Statistics of Income-4ndividual Income Tax Returns for 1993. The ETE sample was developed in order to provide reliable estimates expeditiously following the close of the regular tax return filing season. Each return in the ETE sample represents approximately 5,000 returns in the population. In contrast to the estimated 106,000 individual tax returns selected for the full Statistics of Income (SOI) sample, the size of the 1993 ETE subsample of returns filed through the end of April 1994 was only 21,196. Although 1993 represents only the second time this sample has been used for early data, the taxpayers included in the ETE sample have been included in the Statistics of Income samples each year since Tax Year 1979, provided that the taxpayer filed a return for the given year. To provide some insights into how the ETE subsample of returns filed through April relates to the full-year SOI sample, Figure A compares estimates of key income and other items from both samples for Tax Year 1992. For many items the ETE subsample of returns filed through April provides reliable data. An example is salaries and wages, for which there is only a 9.5 percent difference between the estimates from the two samples. For other items, however, the ETE subsample does not provide reliable data. An example of an unreliable item is net capital gain, for which Michael E. Weber is an economist with the Individual Statistics Branch. This article was prepared under the direction of Peter Sailer, Chief, Individual Special Projects Section. there is a 78.5 percent difference between the estimates for the two samples. Other items for which the ETE subsample provides unreliable'data are: partnership, S Corporation and sole proprietorship net income or loss, and alternative minimum tax. These items are often reported in sizable but varying amounts on returns filed after April. Returns filed after April are mainly those for which filing extensions have been taken, and many of these returns are for highincome taxpayers. As a result, early estimates for the items listed above (and also for high-income returns in general) should be used with caution. A second problem with the estimates from high-income returns is the relatively high sampling variability. Since the ETE subsample is a simple random sample not stratified to favor these taxpayers, there may not be a sufficient number of returns to present an accurate picture of this part of the individual income tax return population. The discussion that follows focuses only on those tax return items and those taxpayer characteristics for which the ETE subsample offers reliable estimates. Selected Sources of Income and Statutory Adjustments "Adjusted gross income" (AGI) grew by 2.3 percent from $3,254 billion for 1992 to $3,328 billion for 1993 even though the number of returns filed increased by only 0.5 percent (Figure B). Salaries and wages, the principal income source, increased by 2.8 pgcent from $2,562 billion for 1992 to $2,635 billion. Both the rate of AGI growth and salary growth were less than the 3.0 percent annual rate of inflation for 1993 [1]. The principal components otal income tax of AGI and "statutory adjustto AGI are shown in ments" increased by 4.9 Tables 2 and 3, respectively. In percent, reflecting the addition to the increase in were salaries and wages, there effect of the two new significant changes in several marginal tax rates. other components from 1992 to 1993 (Figure B). Falling interest rates were a principal cause of a 16.6 percent decline in reported taxable interest income. Unemployment compensation income also decreased by 14.2 percent. This was related to the decline in the national unemployment rate from 7.4 percent for 1992 to 6.8 percent for 1993 [2]. On the other hand, dividend income rose by 7.4 percent. Taxable income from retirement plans increased as well. Taxable Individual Retirement Arrangement (IRA) distributions increased by 15.0 percent, from $28.9 billion for 1992 to $33.3 billion. This followed a 35-percent increase, from $21.4 billion for 1991 to $28.9 billion, for 1992. Taxable 11 Individual Income Tax Returns, 1993: Early Tax Estimates Figure A (Money amounts are in millions of dollars] Comparison of Selected Early Tax Estimates (ETE) Date and Final S01 Data, -Tax Year 1992 1992 Item 1992 ETE final SOI data 2 Percentage increase from ETE to final SOI data (3)' 11.5, i9.5:-,,9.1 12.9 7.5 14.9 19.8 49.9 55.0 78.5 21.6 66.7 62.3 40.1 139.3 29.4 58.1 -9.1 34.2 206.7 26.5 15.8 5.5 4.7 16.7' 97.2 (1) t; Adjusted -gross income. (lais Aeficii) ............................. I......*............ ............ ........... Salaries And wages .......................... ............. .............. ................... Taxable interest........................................................................... 1 ........................... Dividends ................................................................................................................. Taxable pensions and annuities ...... : ....................................................................... Unemployment compensation ................................................................................. Taxable social security benefits ............................................................................... Total statutory adjustments ....................................................................................... Business income: Not income ........................................................................................................... Net loss ................................................................................................................. C4ital gain: I Net gain ......................................................................................... !..................... Net loss ................................................................................................................ Refit and royalty: Net income........................................................................................................... Not loss ................................................................................................................ Partnership and S Corporation: Not income ................................................................................. .......................... Net loss ........................................................................... ......:............................. Farm: Net income ........................................................................................................... Net loss ............................................................................................................... Taxable Individual Retirement Arrangement (IRA) distributions .............................. Other income: Net income............................................................................................................ Net loss ............................................................................... Payments to self-employed (Keogh) retirement plans............................................. Total itemized deductions ....................................................................... Total tax credits 3 ......... : ................................... ; .............. : ........................................ (2) .3,629,130,. 2,805,703 162,343 77,926 186,492 31,393 23,139 35,464, 173,502 19,500 124,841 8'"s 39,451 32,220 128,704 41,053 10,042 12,578 26,273 24,212 44,828 7,592 481,946 5,690 13,024 476,239 3,254,044 2,562,315 144,928 71,429 165,234 29,194 20,144 29,602 115,775 12,577 69,956 6,949 23,663 19,857 91,861 17,157 7,762 7,958 28,912 18,046 14,617 6,004 416,019 5,395 12,434 408,219 .688 ,Total earned income credit ................................................................. ...................... Total income tax.!.................................................................................................... Alternative minimum tax.............................. ................................................ Data are based on a simple random sample of returns filed through April. Data are based on a stratified random sample of returns filed through December. A -"C' 3 Includes earned income credit used to reduce UAW income tax to zero. . 4 and afterriativa minimum tax less earned income credit Totai inccimetair;~as the sum of income tax after credits ' 2 . I 12 pensions and annuities also increased, by 6.2 percent, from $165.2 billion to $175.5 billion. Under statutory, adjustments to income (which serve to reduce AGI), payments to'self-employed (Keogh) retirement plans increased by 31.6 percent to $7.9 billion from $6.0 billion. Fof 1993, there was a 62.3 percent increase in the statutory adjustment for self-employment health insurance benefits compared to the amount reported for 1992. However, the 1992 amount, Almost $ 1.0 billion, was drastically understated due to the July 1, 1992, expiration of the provision authorizing this adjustment. The Omni' bus Budget Reconciliation Act of 1993, enacted in August 1993, After virtually all 1992 returns were filed, extended this provision in the tax code retroactively to cover the period July 1, 1992, through December 31, 1993. Taxpayers . r would have had to file their 1992 return after August 1993, or to have filed an arnended return, to claim the full benefit of this adjustment for 1992. The returns used to produce the ETE articlefor 1992, however, were all filed by the end of April 1993, and do not reflect later amendments of those returns. Consequently, the 1992 ETE data understate the final adjustment claimed for 1992. (It should be noted that since the full SOI sample excludes amended returns, the final 1992 data for this adjustment will also be understated.) ftmmkedDWud1oM The number of taxpayers itemizing deductions and the amount they claimed remained essentially unchanged for 1993, although there were some noticeable changes for Individual Income Tax Returns, 1993: Early Tax Estimates Figure B Comparison of Total and Selected Sources of Income and Statutory Adjustments, Tax Years 1992 and 1993 [Number of returns is In thousands-money amounts are in millions of dollars] 1992 ETE Item Number Of returns (1) 106,= 106,262 90,243 62,089 21,358 (3) 16,560 9,701 14,356 538 2,165 Amount (2) 3,Z4,0" 3,283,646 2,562,315 144,928 71,429 28,912 165,234 29,194 29,602 6,004 947 1993 IETEI Number Amount Of returns (3) 106,769 106,769 91,650 59,916 22,014 (1) 17,088 8,808 14,483 601 2,215 (4) 3,3U,8U 3,358,306 2,635,278 120,822 76,728 33,255 175,519 25,052 30,458 7,902 1,537 Percentage increase in amount (5) 7-3 2.3 2.8 -16.6 7.4 15.0 6.2 -14.2 2.9 31.6 62.3 Adjusted gross Incorne (loss deficit)..................................... ..... Total income (less loss) 2 ..................................................................... Salaries and wages.......................................................................... Taxable interest ............................................................................... Dividends ... ...................................................................................... Taxable Individual Retirement Arrangement (IRA) distributions..... Taxable pensions and annuities ...................................................... Unemployment compensation.......................................................... Less: total statutory adjusimentS 2....................................................... Payrnent to self-employed (Keogh) retirement plans...................... Self-employed health insurance deduction...................................... 1 1 1 1 I Data are based on the Early Tax Estimates (ErE) subsampies of returns used for statistics of Income-Individuall Income Tax Returns. 2 Includes amounts not shown below. 3 Not tabulated. NOTE: All data are for returns filed through April. specific deductions, such as for interest paid and for charitable contributions (Figure Q. Falling interest rates in 1993 agai,n contributed to a decline in interest deductions, which fell 4.1 percent to $168.7 billion. Deductions for charitable contributions increased by 7.9 percent to $58.4 billion. Additional data on itemized deductions classified by size of adjusted gross income are presented in Table 4. Figure C Taxable Income and Total Income Tax The 2.3 percent growth in AGI was roughly matched by a 2.2 percent increase in "taxable income" (Figure D). However, total income tax, the sum of income tax after credits and the alternative minimum tax (AMT), increased 4.9 percent. A substantial portion of this increase was caused by the new marginal tax rates of 36 and 39.6 percent applicable to higher levels of income. As can be seen from [Number ot returns is in thousands--money amounts are in Millions Ot dollars] Returns with itemized Deductions: Comparison of Adjusted Gross Income and Selected Itemized Deductions, Tax Years 1992 and 1993 1992 ETE Item Number Of returns 2 1993 ETE' Amount (2) 1,886,978 416,019 22,119 175,947 163,024 6,681 54,116 Number Of returns 2 (3) 29,211 29,211 5,028 24,286 23,556 2,043 26,530 Amount (4) 1,907,618 417,973 22,830 168,704 157,791 6,174 58,392 Percentage increase in amount (5) 1.1 0.5 3.2 -4.1 -3.2 -7.6 7.9 (1) Adjusted gross Income (loss deficit) ..................................... Itemized deductions 3.................................................................. Medical and dental expense ................................................... Total interest paid deduction 3 ................................................ 29,253 29,253 4,974 24,295 23,373 2,334 26,800 Home mortgage interest: Paid to financial institutions ............................................ Paid to individuals........................................................... Contributions deduction .......................................................... 1 1 1 1 I Data are based on the Early Tax Estimates (ETE) Subsample of returns used for statistics of Income-Individual income Tax Returns. totalReturns with no adjusted gross income are not inckided in the clachiction counts. For this reason, the sum of returns with total itemized deductions after limitation and returns with 2 standard deduction is less than the total number of returns for all filers. 3 Includes amounts not shown separately below. NOTE: Ali data are for returns filed through April. 13 Individual IncorneTax Retumsi. 1993: Eakly Tax Estirn*s: Figure D 11 . [Nuff"r of returns is in thous~nds-money amounts are in millions of dollars) Adjiust6d Gross.Income, Taxable Income,.'and Total Income Tax, Tax Years 1992 and 1993 -1992ETE Number Number 1993 ETE "bunt (2) of .,returns (3). 84 15079,957,, 79,93i. 289 Amount (4) 2,150,11811~ 428299 '427,337 -;..962 F!ercentage: in amount Item of. returns Adjusted jr~is Income (less deficlt~.-~...., ............ Taxable income ........................ ........................................... Total incorne tax .................................................................... 1666nie'taii-a ir credits ... iite ...................... ........................ I Altemafivd minimum tax.......... ................. .................... ........... % W 106,262 84,266. .80,547, 53 3,21P1,044.,_ 2,102,889 408,219, -407,531 i%6 4-9-, 4.9 39.8 '.Data a4based on the Earty'.Tax Estimates (ErE) subsemples of returns used for statistics of inoome-Individual kunrixe Tax Returns'. ~rhe number of returns with total income tax is hiss than the sum Of returns with Income tax after credits and returns with afternati4i minimum tax bemuse some returns reported bOVL I I The amount of total Inoome tax is the,sum of inoome tax after oreditsand afternative minimum tax less total earned Income credit. If this calculation'was negative, total income tax was , NOTE: All data'are for returns filed through April. Figure E, which presents a comparison of total income tax aia pen:~~nita'9 e of AGI by size'of AGI for 1992 and 1993 1 . the only AGI size classwhich shows'a siRnificant increase int6tal inc ometa ' as A'p'eicentag&ofAG1 is the $200,000~ ix and7over, category. 1 AqmaJoT4 of taxpayers in this qatqgory4oU1d hawbeeri, subject to the new marginal,, rates. Indeed, r~ughly half of these taxpams; included a Form 884 1. Deki.Tal of Additional 1993 Taxes w~ ith their tax return.: Form.8841 permitted taxpayers. to elect to pay. oneI thiid of the additi6nal 1993 tax,caused b' enew rates y~ I . 1 1. Figure E Total Income Taxas~a 126rd6fitAge o .. tax Years -ivtPz-!v Under''. $5 .$5 under $10 I under $15 $10 $20 $25 $30 $40 $W $100 'under !'.$20 under $25 under $30 under $40 under $50 . under $75 under $100 . under $200 $200 and over Size Adjusted Gross Income (thousands of.doll.ars) Notes: Total Income tax represents Income tax after credits and alternative minimum tax, less total earned Income . credit. All data are based on returns filed through A Pril 14 Individual Income Tax Returns, 1993: Early Tax Estimates W with their 1994 return and one-third with their 1995 return. (See 1993 Tax Law Changes for additional information.) The final statistics for 1993 will undoubtedly show larger numbers of returns in these two categories because many high-income returns are filed after April. Eamed Income Credit and Mer Tax CWib For Tax Year 1993, about 14.3 million taxpayers filed a return claiming an earned income credit (EIC), up by 6.2 percent compared to 1992. The total amount of EIC claimed was up 17.4 percent to $14.6 billion (Figure F). Like most tax credits, the EIC offsets income tax before credits (as well as certain additional income-related taxes). However, with the EIC, any remaining or "excess" credit is refundable. The number of individuals receiving a refundable amount, or, in other words, the number of individuals who received a refund only because of the EIC, increased 10.7 percent to 11.5 million. The amount refunded increased by 18.1 percent for 1993, to $11.4 billion. At least some portions of these increases were related to the indexing of the EIC. Another factor, however, was the increase in the percent of a taxpayer's earned income. that could be claimed as EIC. For 1992, taxpayers who claimed only one qualifying child could claim 17.6 percent of the first $7,520 in earned income as their EIC. For 1993, this percentage was increased to 18.5 percent of the first $7,750 in earned income. (The increase in the maximumearned income amount from $7,520 to $7,750 reflects indexing.) "Total tax credits" (which includes the EIC to the extent that it could be used to offset income tax before credits) increased by 13.6 percent to $6. 1 billion for 1993. Excluding the EIC that was used to offset income tax before credits, total tax credits increased by 14.0 percent to $3.9 billion for 1993. After the EIC, the largest specific increase was for the foreign tax credit, which doubled from $482 million for 1992 to $969 million. However, some of the increase in the foreign tax credit may be due to the addition of two new tax rates for high-income taxpayers. As taxpayers enter higher tax brackets, the amount of the foreign tax credit that can be claimed against foreign tax payments' may increase. Evidence that might support this assertion can be found in the more than $300 million increase in the foreign tax credit for taxpayers with an AGI of $200,000 or more. Table 5 presents more detailed data on tax credits, as well as on selected deductions, taxes, and tax payments, classified by size of adjusted gross income. Filing Patierns and Characteristics of Rehm As of the end of April 1994, when sampling of returns for the ETE statistics was completed, 106.8 million taxpayers had filed their individual income tax returns. This represents an increase of 0.5 percent compared to 1992 (Figure G). As a percentage of returns expected to be filed, Figure F Earned Income Credit and Other Tax Credits, Tax Years 1992 and 1993 [Number of returns Is in thousands--money amounts are in millions of dollars] 1992 ETE Item Number of retums (1) Total earned Income CMdIt 2...................................................... 1993 ETE Amount (2) 12,434 11,328 618 438 1.962 847 9,625 5,395 2,324 482 67 Number of returns (3) 14,264 14~228 2,812 1,659 5,863 (3) Percentage Amount (4) 14~W 13,454 722 406 2.216 1,016 11,368 6,131 2,269 969 48 increase in amount (5) 17A 18.8 16.8 -7.3 12.9 20.0 18.1 13.6 -2.4 101.0 -28.4 Basic credit ......................................................................................... Health insurance credit ...................................................................... Extra credit for child born during the tax year .................................... Earned Income credit used to offset income tax before credits........ Eamed income credit used to offset other taxes............................... Refundable credit .............................................................................. Total tax credit ~......................................................................... Child care credit ................................................................................ Foreign tax credit............................................................................... Credit for the elderly........................................................................... 13,433 13,336 2,633 1,738 5,675 (3) 10.403 11,477 5,498 778 281 11,515 11,980 5,421 1,049 208 Date are based on the Early Tax Estimates (ETE) subsample of returns used for Statistics of Income.-Individual Income Tax Returns. Detail does not add to totals because of prior- year returns Included In the sample used for the statistics, without a Schedule Etc attached. Schedule EIC did not exist until Tax Year 1991. Therefore, on returns for years prior to 1992, the detail could not be cletannined. Not tabulated. In adclition to the earned Income credit used to offset Income tax before credits shown above, includes tax creclits not shown separately. NOTE: AD data are for returns filed through April. 15 Individual Income Tax Returns, 1993: Early Tax Estimates Figure. G Number of Returns Filed, Tax Years 1988-1993 [Number of returns Is in thousands) Returns filed 1988 (1) Returns filed through April of the filing year ................................. Returns filed through December of the filing year ....................... Returns filed through April as a percentage of returns filed through December ............................................................ 102,228 109,708 93.2 1989 (2) 1 04,314 112,136 93.0, Returns filed in Tax Year 1990 (3) 106,465 113,470 93.8 1991 J4) 107,140 113,795 94.2 1992 (5) 106.262 113,75.4 r 93.4 1993 T6)_ 106,769 114,5401 93.22 2 Projected total by the IRS Compliance Research of Forms 1040, 1040A. 1040EZ. and electronically-filed Peturns; as,adjusted for Statistics of Income. Estimated on the basis of projections for Tax Year 1993. r - revised. NOTE: All data are for ratums.filed through April. 93.2 percent of returns were filed by the end of April, compared to 93.4 percent for 1992 [3]. For the preceding 5 years, returns filed through the end of April ranged between 93.0 and 94.2 percent.of all returns filed during the Internal Revenue Service (IRS) processing year (Figure G) [4]. - Figure H shows that the three major changes in the types of returns filed for 1993 were the increase in the share of Forms 1040EZ (U.S. Individual Income Tax Return for Single and Joint Filers with No Dependents) filed, (which reversed a 5-year long downward trend), the marked decrease in the proportion of Forms 1040A (U.S., Individual Income Tax Return) filed, and a continued increase in the pe'rcent of returns filed electronically. Filing of the Form 1040EZ increased by 8.1 percent to 17..2 million. Some of the increase was due'to a change in the filing requirements which enabled joint .filers to use the Form 1040Morthefirst time. For 1993 , almost 800,000 married couples took advantage of this change by filing a Form 1040EZ. Meanwhile,the number ofForm 1040A returns filed decreased by 7.3 percent to 18.2 million. The number of electronically~filed returns (1 040 ELF) increased by 7.9 percent, to 13.4 million. Filing of Form 1040 PC, 1993. U.S. Individual Income Tax Return 104OPC Format, which is, an IRS-approved computer printout of only those items for which the taxpayer is providing information, increased 2.6 percent to 4. 1 million for 1993 [5]. Table I at the end of this articlepresents return characteristics by income size and filing status for each Form 1640 return type. Returns Filed through April by Tax Form Used, Tax Years 1987 to 1993 [Number of retims is in thousands] Form usei:i 1987 0) All retums.............. .......................................... 98,569 62,948 35,048 17,104 17,944 573 N/A 1988 L2) 102=8 63,647 37,381 18,284 19,097 1,200 NIA 1989 (3) 104,314 63,533 36,514 17,677 18,837 4,267 N/A Tax Year .1990 U 4 106,465 60,190, 37,625 20,8W 16,785 8,705 N/A Percentage of returns All retums.......................................................... Long form, . 1 M 1 ............................................ Short forms, total I .......................................... 1040A I ........................................................ 1040EZ I...................................................... Electronically-filed returns (1040 ELF) ............ Form 104OPC .................................................. 100.0 63.9 35.6 17.4 18.2 0.6 N/A 100.0 62.3 36.6 17.9 18.7 1.2 NIA 100.0 60.9 35.0 16.9 18.1 4.1 N/A 1 00.0 56.5 35.3 19.6 15.8 8.2 NIA 100.0 54.7 33.9 .18.1 15.7 10.1 1 *.3 100.0 51.1 33.5 18.5 15.0 11.7 3.7 100.0 50.4 33.2 17.1 16.1 12.6 3.8 1991 ts) 107,140 58,650 36,290 19,430 16,860 10,795 1,405 1992 U S 106,262 54,287 35,567 19,652 15.915 12,459 3,951 1993 '7(7) iO6,769 53,856 35,417 16,218 17,199 13,441 4,055 Long form, 10401 ............................................ Short forms, total 1 ............................................ 1040A I ........................................................ 1WEZ1....................................................... Electronically-filed returns (1040 ELF) ............ Form 104OPC .... ; ............................... ........... 161 , N/A- Not applicable. I Excludes electronically-filed returns and computer-generated returns (Form 1040 PC), shown separately. NOTES: Detail may not add to totals because of rounding. AJI data are for returns filed through April. Individual Income Tax Returns, 1993: Early Tax Estimates 1993 Tax Law Changes The two most significant changes in Federal tax law affecting the statistics for 1993, in addition to the changes in the EIC noted earlier, were the creation of two new tax brackets applicable to high-income taxpayers, and the increase in and graduation of tax rates for the "alternative minimunitax." The new tax brackets provided marginal tax rates of 36 and 39.6 percent. Figure I shows the various levels of taxable income by filing status where the new marginal rates apply. Note that the income ranges for the amount of income taxed at the 15, 28, and 31 percent tax brackets were increased. These new ranges were set by statute and any future indexing of the tax brackets will be based on the 1993 boundaries. 'Me Omnibus Budget Reconciliation Act of 1993, which created the 36 and 39.6 percent tax rates, was enacted in August 1993 and made retroactive to the beginning of the year. As a result, taxpayers affected by the new tax rates were permitted the option of deferring payment on twothirds of the tax owed that was in excess of the tax that would have been owed at the 31 percent rate. Taxpayers electing the deferment option were required to file Form 884 1, Deferral ofAdditional 1993 Taxes, with their tax return. Half of the deferred taxes must be paid with the taxpayer's 1994 return and the remaining half with the 1995 return. For tax years beginning after 1993, the basic alternative minimum tax rate was increased from 24 to 26 percent. In addition, a second rate of 28 percent was introduced which applied to amounts of "alternative minimum taxable income" (AMTI) in excess of $175,000 ($87,500 if married filing separately). This increase in tax rates was partially offset by an increase in the alternative minimum tax exemption, which rose from $40,000 to $45,000 for married persons filingjointly and qualifying widow(er)s, from $30,000 to $33,750 for single persons and heads of households, and from $20,000 to $22,500 for married persons filing separately. In addition to all of these changes, Federal tax law requires that standard deductions, personal exemptions, and the earned income credit be indexed so that inflation does not erode them, thereby causing taxpayers to be subjected to higher tax rates. For 1993, these amounts were increased by approximately 3 percent. Figure I Marginal Tax Rates for Tax Years 1992 and 1993 Filing status Single Marginal tax rate 1992 Taxable income range (1) $0 to $21,450 $21,451 to $51,900 $51,901 or more N/A N/A 1993 Taxable income range (2) $0 to $22,1 00 $22,11 01 to $53,500 $53,501 to $115,000 $115,001 to $250,000 $250,001 or more Married filing jointly or qualifying widow(er) 1992 Taxable income range (3) $0 to $35,800 $35,801 to $86,500 $86,501 or more N/A N/A 1993 Taxable income range (4) $0 to $36,900 $36,901 to $89,150 $89,151 to $140,000 $140,001 to $250,000 $250,001 or more 15 percent..................................................... 28 percent .................................................... 31 percent..................................................... 36 percent .................................................... 39.6 percent .................................................. Filing statu"ontinued Married filing separately Marginal tax rate 1.992 Taxable income range (5) 15 percent..................................................... 28 percent ..................................................... 31 percent.................................................... 36 percent.................................................... 39.6 percent .................................................. N/A- Not applical:i1e. 1 17 Head of household 1993 1992 Taxable income range (7) $0 to $28,750 $28,751 to $74,150 $74,151 or more N/A N/A 1993 Taxable income range (8) $0 to $29,600 $29,601 to $76,400 $76,401 to $127,500 $127,501 to $250,000 $250,001 or more Taxable income range (6) $0 to $18,450 $18,451 to $44,575 $44,576 to $70,000 $70,001 to $125,000 $125,000 or more $0 to $17,900 $17,901 to $43,250 $4,3251 or more N/A N/A Individual Income Tax Retums, 1-993: Early Tax,,Estimates, DabSources andUndtations The statistics presented-in this article were derived from a sample of all individual tax returns received inthe ten IRS service center mailrooms from January 1, 1994, through April 29, ".. . 1994. The. gainple was. selected based on the . 1. , pri,mary socia'I 'security 'number (SSN). (i.e., the SSN of the ' primary" or first listed taxpayer,in'the'case ofjpint returns) Qing in "one of two pre'-dehtitedord 'e'ri for,"the Ia,s iio'rLdigits. Specifically', twbjhi~ffib6i's''between 0000 u* i. 1 ~ . ~ t .1-1 f- ~, ~,.: and 9999. were chosen, so thiti'alf re '~ ending Iifi'one of 'tiiffi these two numbers were sampled. Electronically-filed returns with'a primary SSN ending in one of these. two four-digit combinations were also included in the sample. This method of sampling provides the same results as a random'sample. The returns studied for the' ETE statistics are a subset of the returns included in the sample used for Statistics ofIncome -- Individual Income Tax Returns. Since two SSN endings out of a possible 1.0,000 were selected, each return represented "One out of 5,000 returns in the-population.-The size of the entire ETE subsample from January 1 through April 29, 1994, was 21,196 returns. Weights were adjusted for returns identified,as missing from the sample. Since the data presented in this article are estimates based on a: sample, they are.subject to sampling (as-Well as .non-sampling) error. Non-sampling error may be higher for ETE data than for other SOI data because approximately 20 to 25 percent of the returns included had not yet been subjected to any of the regular IRS return-processing steps, which would hav~'corrected many taxpayer reporting Offors. These returns showed a tax due at time of filing and are typically processed after April 15th, to permit refund returns to be given a higher priority. Sample returns with. tax due were identified when they were received at the IRS centers and forwarded for,SOI processing prior to regular IRS processing. During SOI processing they were tested for internal consistency, however, so that the more obvious taxpayer omissions and math errors were corrected If statistical data are:to be used properly, the magnitude of the sampling error must be known. Coefficients of variation (CV's), computed from the sample, are used to measure the magnitude of the sampling error [6]. Figure J presents approximate CV's for frequency estimates. These CV's are intended only as a general indication of data reliability. For numbers of returrisother than those shown, the corresponding coefficients of variation can be estimated by interpolation. I Figure J Coefficients of Varlatiohlbr Pedqu6hey Estimates, Tax Year 1993 Estimated number of returns 49,990,000........ 12,497,500.... ; ............................ 499.900 ........................... ;........... 125,000 .......... .............. : .......... 55,500 .................. I ..................... 40,800 ....................................... 20,000 ........................................ 0.20 0.30 Coefficients ~f Variation 0.01 0.02~ 0.35 0.50 Notes and References [1] U.S. Department of Labori Bureau of Labor Statistics, Monthly Labor Review. Represents annual averages of monthly figures; reflects buying patterns of all urban consumers. Indices used were 1992 CP1-U 140.3; 1993 CP1-U = 144.5.' [2] U.S. Department of Labor, Bureau of Labor Statistics, E~mployment and Earnings, mopthly. [3] 'In the'1992 ETE article, it was noted that the percent' age of returns filed through the end of April 1993 was the lowest since 1987. This was based on an IRS prajection of 1, 14,722,000 returns for the full processing year. As can be seen from Figure G, the actual . number ofreturns filed in 1993 was only 113,754,000. Consequently,' the percentage of returns filed through the end of April 1993 for,Tax Year 1992 did not change as dramatically as previously asserted, although it did decline markedly from Tax Year 190 1. [4] Taxpayers could legitimately file after April 15 if-(a) they lived outside the United States and Puerto Rico and their main place of business or miliia~y ' ' post of duty was outside the United States and Puerto Rico (these taxpayers were permitted an automatic extension to August 17); (b) they filed a Form 4868 for an automatic extension of the filing deadline, paying the estimated balance due with this form'(these taxpayers were permitted an automatic extension to August 17); or I Individual Income Tax Returns, 1993: Early Tax Estimates c) they filed a Form 2688 for an additional extension of time to file (these taxpayers were granted an extension of 2 or more additional months, provided that there was a good reason why the previous 4-month extension was inadequate). containing fewer pages than if the same return had been prepared using the standard IRS form and schedules. (61 The coefficient of variation is the ratio of the standard error of the estimate to the estimate itself. For more information on the coefficient of variation and how to use it in interpreting ETE data, see "SOI Sampling Methodology and Data Limitations," in the Appendix to this issue of the Bulletin. [5) Form 104OPC returns are computer-generated returns which contain only line numbers and data entries. Only those lines of the tax form which contain an entry appear on the FormlO40PC, resulting in a return 19 Individual Income Tax Returns, 1993: Early Tax Estimate's Table I.-All Returns: Number by Marital Status, b~ Type of Return and Size of Adjusted Gross lncoFw_ [An figures are estimates based on samples-number of returns is in thousands) I AJI returns Size of adjusted gross income Total Single (2) All returns, total... ..................................................... I....... No adjusted gross income ....................................................... $1 under'$5,000~.: ............. .............................. ................... $5,000 under $10,000. ..................................... $10,000 under $15,000................................ .......................... $15,000 under $20,006............................................................... 420,000 under $25,600............................................................... $25,000 under $30,000............................................................... $30,000 under $40,000............................................................... $40,000 under $50,000 ................. ........................................ $50,000 under $75,000............................................................... $75,600. under $1 OO'(= ...... ....................... ............ ........... $100,000 under $200,000 ............................................................ $200,00.0 or. more .......................................... ........................ 106,769 1,080 14,210 14,224 12,626 16,520 6,748 7,345 11,330'. 8,220 11,032 3,876 2,731 826, 46,342 639 1 1,4,U 8,991 6,469 4,688 3,789 2,945 3,725 1,645 1,406 284 239 U Married filing jointly (3) 44,072 2 975. 2; 1 ~4. 3,129 3,3~5 3,193 3,111 6,209 5,904 9,105 3,516 2,422 723 Form 1040 returns 2 Married filing separately (4). 2,240 151 212 265 321 3~7 255 224 216. 140 89 *26 -5 *10 Head of household (5) 14,115, 1,589, ~,~?t8l,4-; _;,2,707;, 1.512 1,0ii4 1,180. 532 65 -5. Size of adjusted,gross income Total (6) All returns, total .................................................................... No adjusted gross income I ............................ ........................... $1 under $5,000 .......................... :***"**'*'***"**"*'***"**...... *"*** ....... .$5,000 under $10,000 .................................................................. $10,000 under $15,000 ..................... :......................................... . $15,000 under, $20,000 ................................................................ . $20,000 under $25,000 .............................................................. $25,000 under $30,000 ................................................... ......* .... $30,000 under $40,000 ....... ............... ........ $40,000 under $50,000 ................................................................ $50,000 under $75,000 ................................................................. $75,000 under $100,000...................................... ...................... $100,000.under $200,000........................................................... $200,000 or more........................................................................ 53,856 572 4,019 4,687 4.202 4,076 3.822 3,416 6,683 5,872 9,477 3,5120 2,684 826 Single .(7) 17,857 282 3,122 2,988 2,187 1,682 1,450 1,188 1,942 1,171 1,255 269 234 87 Married filing -jointly (8) 31,027 225 548 .1,090 -1,518 1,818 1,821 1,715 3,958, 4,266 7,784 3,180 2,380 .723 Form 1640A retu MS2 Married filing separately, (9) 1,192 _'36 87 124 117, 143 13~ 137 ~1 69 1i6 84 *5 *10 Head of household (10) 3,780 262 485 379 434 414 375 614 320 353 :-45 65 *5 Size. of adjusted gross income Total (11) All returns, total ...................................................................... No adjusted gross income I ......................................................... $1 under $5,000 .............................................. $5 000 under $10,000................................................................. ............ $16,000 under $15,000............................................................... $15,000 under $20,000............................................................... $20,606 under $25,000 ............... ............................................... $25 000 under $30,000.. ............................................................ $30:OOP under, $40,ObO.. *: ............................................ ........ $40,000 under $50,000............................................................... $50,000 under $75,000................................... *-* ........ **............. 1~6otriotes at end of table. Single (12) 6,610 287, 1,633 1,440 1,003 687 562 407 477 100 *15 Marriedfiling jointly - --------(13), 0,368 *20 291, 568 759 767 779~ 848 1,176 802 359 'Married filing' separately 0 4) '7W. 116 121 104 M., 136 *48 '33 *9 -5 Head of household 0 5). .5,, 613 ~840 733 611 377 253 119 18,218 427 2,658 2,952 2,767 2,323 2,624 1,681 1,938 1,030 418 20 Individual Income Tax Returns, 1993: Early Tax Estimates Table 1.-All Returns: Number by Marital Status, by Type of Return and Size of Adjusted Gross Income -Continued [All figures are estimates based on samples-number of returns is in thousands] Form 1040EZ returns 2 Size of adjusted gross income Total (16) All returns, total.................................................................... No adjusted gross income I ........................................................ $1 under $5,000 .......................................................................... $5,000 under $10,000................................................................. $10,000 under $15,000............................................................... $15 ,000 under $20,000............................................................... $20,000 under $25,000 ............................................................... $25,000 under $30,000 ............................................................... $30, 000 under $40,000 ............................................................... $40,000 under $50,000 ............................................................... $50,000 under $75,000 ............................................................... 1 17,199 *41 5,849 3,418 2,312 1,770 1.412 1,000 1,020 321 55 Single (17) 16,426 *41 5,829 3,362 2,246 1,679 1,348 915 811 181 15 Married filing jointly (18) 773 *20 56 66 92 65 85 209 140 Married filing separately (19) WA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Head of household (20) N/A N/A N/A N/A N/A NIA N/A N/A N/A N/A N/A Electronically filed returns Size of adjusted gross income Total (21) All returns, total.................................................................... No adjusted gross income I ........................................................ $1 under $5,000 .......................................................................... $5, 000 under $10,000 ................................................................. $10, 000 under $15,ODO ............................................................... $15,ODO under $20,000............................................................... $20,000 under $25,000............................................................... $25 ,000 under $30,000............................................................... $30,000 under $40,000............................................................... $40,000 under $50,000............................................................... $50,000 under $75,000 ............................................................... $75,000 under $1100,000............................................................. $100,000 under $200,000 ........................................................... $200,000 or more........................................................................ 113,"1 *15 1 , 278 2,673 2,783 1,951 1,113 949 19174 663 654 163 *25 Single (22) 3,734 *10 521 873 750 422 309 326 321 119 62 * 15 -5 Married filing jointly (23) 4,045 -5 89 346 583 569 368 331 571 461 558 143 '20 Form 104OPC returns Size of adjusted gross income Total (26) All returns, total.................................................................... No adjusted gross income I ........................................................ $1 under $5,000.......................................................................... $5,000 under $10,000................................................................. $10, 000 under $15,000 ............................................................... $15,000 under $20,000 ............................................................... $20,000 under $25,000............................................................... $25,000 under $30,000............................................................... $30 ,000-under $40 ,000............................................................... $40,000 under $50,000............................................................... $50,000 under $75,000............................................................... $75,000 under $100,000............................................................. $100,000 under $200,000.............................................. ............ $200,000 or more................................................................. 4,055 *25 407 494 561 400 377 299 515 334 428 193 *22 Single (27) 1,716 *20 329 328 283 219 120 109 174 75 60 Married filing jointly (28) 1,859 *5 *27 94 202 130 160 131 295 236 364 193 '22 Married filing separately (29) 123 -5 *27 *16 *17 *31 *14 *9 *5 Head of household (30) 357 '46 *46 '60 '66 *45 *37 * 18 -5 Married filing separately (24) 129 Head of household (25) 5,533 668 1,444 1,414 930 420 267 277 74 W *5 *10 *15 *25 *5 *10 I Includes returns with adjusted gross defidt 2 Excludes electronically-filed returns and computer-generated returns (Form 1040 PC), shown separately. Estimate should be used with caution because of the small number of sample returns on which it is based. N/A - Not applicable. NOTES: Detail may riot add to totals because of rounding. All data are based on returns fled through April. 21 Individual Income Tax Returns, 1993: 'Early Tax Estimates Table 2.-All Returns: Total Income and Sources of Income, W Size of Adjusted Gross Income [All figures are estimates based on samples-numberof retums.19 in Voussiuls. amounts are in millo'ne of dollars] Sources of Income Sze of adjusted gross Income Number of returns (1) 100'M j,080' 14,210 14,224 12,626 10,520 8,748 7,345 11,330 8,22D 11,032 3,876 2.731 Total Income or loss (2) 3XB,= -12,776 35,827 107-5M 158,423 184,114 197,701 202JW 396,629 368,883 970.991331,979 362,175 3M,194 Salaries and wages Number~of returns Amount (3) 91,650 '193' 11,575 11,213 IOR11 8,962 7,W7 6,690 10,531 7,544 10,270 3,W7 2.478 712 (4) 2AM,27S 5.32730,654 77,527-: 116,020 141.581 155,846 169,067 308,024 856,381 281AN 256,415 190,876 Tw(able Interest I . . Number of returns Amount (5) 59,916 379 4054 5,371 6,067 4.868. 4,855 4,151 7,622 6,358 9,525 3.604 2,652 - W4 (6) 12OAn 1.423 2,401 7,128 9.325 km 6,PM 4,460 8,450 IOA7 .14,107 7.317 12,453 28,05 Tax-exempt Interest Number of returns AAMM (7) 4,129 104 161 232185 210 Ise 438 `464 771 375 615 371~. (6) 41 A74 --I',00C %197 ' M .1,329 .904, 1,340 865 1,782 2,929 5,530. 3.022 8,106 13,968 All isbans, No adidsied gross income 3................. $1 uhddr$5,000 .......................... : .... $5,000 under $101000'........................... * $10,000 under $15,000........................ $15,000 under $20.ODO........................ $20,000 under $25.000........................ $25,000 under $30,000........................ $30,060 under $40,000........................ $40,000 under $50,ODO........................ $60,000 under $75,000........................ $75,000 under $100,000...................... $100,000 under $2W.000.................... $200,000 or more................................. 1 Sources of Incoms-rContinued Dividends Size of adjusted gross-income Numberof rebjms 'Ali rqit~ ...... No adjusted gross Income 3................. $1 under $5,000................................... $5,000 under $10,000.......................... $10,000 under $15,001)........................ $15,060 under $20,000........................ $0,900 under $26,000........................ $25,000 under $30,000........................ $30,660 under $40,OW........................ $40,OOP under $50,000........................ $50,000 under $75,000..;..................... $75,ObO under $100,000...................... $100,000 under $2DO,000 .................... $200,000 or more................................. -(9) 22,014 173 1,480 1,613 1.527 1,449 1,430 1.205 2,405 2.206 3.9K 1,963 I'M "S Amount (10) 76,728 220 932 2,353 2,6W 2,910 2,990 2,350 4,767 5,675 9,658 5,803 11011399 25,695 Taxable refunds of State and local' income taxes Number of returns (11) 15,71; *40 64 199 275 53~ M M 2,347 2.5W 4.1011, 1,810 1,269 4M Amount (12) 8,972 *58 45 97 101 Ise 252 429 893 1,045 2,297 979 1.400 1,2W Alimony received Numberof returns (13) 346 *10 ..30 60 56 '30 *21 56 *30 *43 *5 *5 Business not I Numberof returns (15) 9i755 73 am 11,234 968 834 674 685 1.039 -926 1,276 484 590 113 Amount (14) 3AW *34 ~.% 342 490 *115 *184 *465 *900 *81 M Amount (16) 1IIJM 400 . .1,938 6.344 6,998 6,382 6,743 5.7~14 9,357 9,431 16,WO 9,171 24,140 8,5" Sales of capital assets 631ii oiadiust6d gross incoine Business not lose Net Capital gain 4 Capital gain distributions 4 Number of returns (19) 111.= 54 439 620 560 563 513 441 894 ' 873 1,618 8". 1,081 437 NWW Numberof returns (21) tal Iose Amount (22) Number of returns (23).Amount (24) Number of returns (17) All raUffna, total ...... No adjusted grosi Income ................. $1 under $5,000................................... $5,000 under $10,000.......................... $10,000 under $15,090 ........................ $15,000 under $20,000 ........................ $~0,000 under $25,000 ........................ $25,000 under $30,000 ........................ $30,000 under $40,000 ........................ $40,000 under $50,000 ........................ $50,000 under $75,000 ........................ $75,000 under $100,000 ...................... $100,000 under $2DO,000.................... $200,000 or more ............... ................. Footnotes at end of table. 3,On 192 134 193 234 199 248 Ise 403 320 527 185 148 so Amount (18) IIAN 1.310 254 1,667 695 736 499 1,120 1.126 IM 1"0 5117502 Amount (2D) MAI 531, 612 1,2M 1.176 .1,447 1,954, 1,970 3,444 1 4,752 12,338 8.6W 14,746 33,987 3AW 144 171 ~16 232 lee 208 378 235 624 M 301, 172 %= 339 311 800 605 337 417 324 SAM, *5 364 283 249 239 226 .190 417 647. V9 .160 *5 Un 123 141 140 131 .224 " $6, ..343 375 549 W2 170 1 322 1,130 W5 617 382 22 Individual Income Tax Returns, 1993: Early Tax Estimates Table 2.-All Returns: Total Income and Sources of Incorm, by Size of Adjusted Gross Income-Continued [All figures are estimates based on samples-number of returns is in thousands, amounts are In millions of dollars] Sources of Income -Continued Schedule E income or loss' Sales of property other than capital assets Not gain Net loss Total not income Total net loss Number of returns (25) All rebirris, total ............................. No adjusted gross income 3 ................ $1 under $5,000.................................. $5,000 under $10,000......................... $10,000 under $15,000....................... $15,000 under $20,000....................... $20,000 under $25,000....................... $25,000 under $30,000....................... $30,000 under $40,000....................... $40,000 under $50,000....................... $50,000 under $75,000 ....................... $75,000 under $100,000 ..................... $100,000 under $200,000................... $200,000 or more................................ 661 -5 *10 *45 *35 72 *49 *21 73 56 93 70 87 *45 Amount (26) 3,465 .1 '35 *111 '67 227 *315 *167 175 457 484 516 571 *338 Number of returns (27) 805 60 W 71 *W *40 66 *45 '46 86 73 51 116 88 Amount (28) 7,817 1.763 .88 342 '54 *31 120 *M *178 457 6" 217 192 3,696 Number of returns (29) 6,556 *45 221 564 566 493 433 325 657 712 19016 434 709 382 Amount (30) 117,162 -1,156 465 1,936 1,971 1,867 2,078 2,094 3,548 5,377 9,637 5,788 24,839 569406 Number of returns (31) 4,9W 200 181 272 243 276 271 291 659 502 1,039 491 413 143 Amount (32) .37,620 49182 978 1,572 948 1,192 855 1,293 2,371 3,895 59470 2,535 2,940 9,390 Size of adjusted gross income 1 1 1 Sources of Income -Continued Schedule E income or loss O-Continued Rent and royalty Size of adjusted gross income Net income Number of returns (33) All returns, total............................. No adjusted gross income 3................ $1 under $5,000 .................................. $5,000 under $10,000......................... $10,000, under $15,000....................... $15,000 under $20,000 ....................... $20,000 under $25,000....................... $25,000 under $30,000....................... $30,000 under $40,000....................... $40,000 under $50,000....................... $50,000 under $75,000....................... $75,000 under $100,000..................... $100,000 under $200,000................... $200,000 or more ................................ . 4,146 '415 153 378 406 329 278 228 415 455 651 255 344 207 Amount (34) 25,348 '567 288 1,194 1,107 1,219 867 547 841 1.960 4,125 1,726 59416 5,487 Not loss Number of returns (35) 3,633 136 125 191 194 220 216 220 653 394 833 374 302 76 Amount (36) 17,706 1,094 657 935 705 772 610 1,029 1,960 1,744 4,159 29007 1,752 281 Partnership a Net income Number of returns (37) 2,719 M 61 130 123 142 121 112 213 261 500 214 497 310 Amount (38) 88,892 *737 142 636 700 402 859 19529 2,498 3,149 5,308 3,651 189131 51,151 S corporation Net loss Number of returns (39) 1,W7 74 60 80 70 80 85 71 135 157 257 163 259 173 Amount (40) 22,426 3,261 281 739 225 454 293 343 470 Z450 19698 819 1.652 9,743 Sources of Income -Continued Returns with Individual Retirement Arrangement (IRA) distributions Number of returns (41) All raturns, total ............................. No adjusted gross Income 3................ $1 under $5,000.................................. $5,000 under $10,000 ......................... $10,000 under $15,000 ....................... $15,000 under $20,000 ....................... $2D,000 under $25,000 ....................... $25,000 under $30,000 ....................... $30,000 under $40,000 ....................... $40,000 under $50,000 ....................... $50,000 under $75,000....................... $75,000 under $100,000 ..................... $100,000 under $200,000 ................... $200,000 or more................................ 4,657 *15 115 467 487 482 450 338 635 478 M 226 228 84 Total amount (42) 62,797 '34 402 1,864 2,316 2,163 1,756 3,011 4,786 4,175 6,538 51050 5,034 16,677 Taxable amount (43) 33,M -34 328 19045 19499 1,616 1,796 1,678 2,773 2,284 3,856 2,973 4,240 9.329 Returns with pensions and annuities Number of returns (44) 17,068 .89 5118 1,956 2,337 2.022 1,623 1,211 19873 11.558 2.339 815 697 150 Total amount (45) 228,604 599 19826 10,870 17,244 19,359 19,786 16.154 24,8W 29,611 44,107 15,288 19,243 9,997 Taxable amount (46) 175,519 273 11050 9,293 16,459 17,527 18,417 13,644 21,290 18,526 32,448 119257 12,141 39195 Farm net Income Number of returns (47) 798 -20 77 125 88 62 108 -32 69 78 64 *28 *26 *21 Size of adjusted gross Income Amount (48) 8,018 *121 104 536 575 450 643 *298 1,372 452 1,609 M *786 '639 23 Footnotes at end of table. Individual Income'Tax Returns, 1993: - Early Tax Estimates Table 2.-All Returns:-Total Income and Sources of Income, by Size-of. Adjusted Gross Income-.-Continued [All figures are estimates based on samples--number of returns is in thousands, amounts are in millions of dollars) Sources of income--Continued Size of adjusted gross income Farm net losses Number of returns Amount (49) All returns, total........................ ......... No adjusted gross income 3 ....................... 1 $1,under$5,000....................... ............ $5,000 under'$10,000..`........................... 1,121 *30 56 115 65 (50) 8,284 *665 359 471 338* Returns with-taxable social security benefits Number of returns. (51) 0,564 90 ~'640 1,2761,201', Total benefits (62) 102,927992 5,226 12,07911~1~36 i Taxable amount (53) 21,933 53, 15 61 154 $10,006 under $15,660- ......................... $15,000'under $20,000............................ $20,000 under $25,000............................. $25,00O.under $30,000............................ $30,000 under.$40,000............................ $40,000 under $50,000 ................... .......... $50,000 under $75,000............................ $75,600 under $100,000 ........... t.............. $100,600 under $200,000 ........................ $200,000 or more..................................... Size of adjusted gross income 89 105 83' 161 148 164 .49 *3.6 _*21 All returns, total .................................. ........ ............................ No adjusted gross income 3 ........ 4 ......................... : ........................ $1 under $5,000............................................................................. $5,000 under $10,000 ..................................................................... $10,006 under $15,000 ................................................................... ,$15,000 under $20,0o6 ..................... ............... ................................ $20,606 under $25,006..................................................................... $25;000 under $30,000 ................................................................... $30,000 under $40,000................................. ......................... $40,000 tinder $50,000 ............ : ........................ $50,000 under ....... $75,'000 under $75,000.....'.... .... ......................... ....................... $100,000......... 1 ....................................................... $100,000 under $200,000 ... : ........................................................... $200'000 or more ... :... - ................... ................................................ Size of adjusted'gross income All returns, total.,.;r........ .............................. No adjusted gross income 3 .................................................... ......... $1 under $5,000........................ ......... $5,000 under $10,000................ .............. : ...................................... $10,000 under $15,000 ..................................................... ............. $15,000,under,$20,000 ..................................: ............ ! .................... U0,000 under $25,000 ....................... ................................... ........ $25,000 under $30,000; ................................................................. $30,000 under $40,000 ...................................... ........................... $40,000 under $50,000.o ................................................................ $50,000 under $75,000 .................................................................. $75,000 under $100,000 .............. ................................................. $160,000 under $200,000 .............. .................................... M.......... $200,006 orniore ............................................................................ 745 '8,050 94 87310,099 7568,339 1 247 1,166 12,703 3,862 965 10,164 4,655 1,082 12,271 6,111 .367 4,469 -2,234 308 3,859 94~ 1,938 969 Sources of incomem:-Con*tinued Unemployment compensation, Other income Number of 'Number of returns Amount returnsAmount (54) (55) (56) 8,808 25,052 4,421 23,i87 *10 *32 *30 '64 .338 .565 269 452 ~,226 316 585 .1,21V 3,784, 314 674 1,056 -3;121 309 710 819 2,275 357 543 703 2,159 315 817 1,195 3,497 501, 1,179 839 2,578 993 446 956 2,913 747 .2,547, 238 660 317 .1,944 78 216 363 ~,778 *16 . : *28 138 10,003 L Sources of income--Continued Otherloss Less: Foreign earn d incorne exclusion Number of 'Numbbf Of returns Amount returns Arn~u ... unt '(580 :(59) Y~ 1 . ..... w._11 J q_'.., 38717,595 .160 13,011 ;:~ ~-'3 *1',299 '40 ' *06, *1.415' *40 *147 *5 *317 *20 *65 *5 *52 *5 *18 *15 *193 *16 *117 *10 *900 *30 *212 *10 *56gr -7 *10 -15, *11,171 .10 0 *574 .*259 *16 *958 *15 *107 *5 -.*345 .414 963 647 873694 1,060 *263 -490 -1,108 I The sum of all sources of income less loss, before reduction by statutory adjustments. Total income minus statutory adjustments equals adjusted gross Income. 2 Not included in total income or adjusted grcris income. 3 Returns with adjusted gross deficit. 4 Not ~afoital gain (columns 19-20) excludes capital gain distAbutions (columns 23-24). Less then $500 000. ! Includes estate or Mist net income not shown separately. N Estimate should be used with caution because of the small number of sample returns on which it is based. NOTES: Detail may not add to totals beca-use'of rouncQg. ' All data are.based on returns filed through April. Individual Income Tax Returns, 1993: Early Tax Estimates Table 3.-All Returns: Total Income, Selected Statutory Adjustments, and Adjusted Gross Income, by Size of Adjusted Gross Income [All figures am estimates based on mples-numberof retumsis in thousands, amounts are in millions of dollars) Statutory adjustments Size of adjusted gross income Total returns Total income or loss Total 2 Number of returns (1) 106,769 1,080 14,210 14,224 12,626 10,520 8,748 7,345 11,330 8,220 11,032 3,876 2,731 826, (2) 39358,306 -12,778 35,827 107.589 158,423 184,114 197,701 202,580 396,629 368,883 670,991 331,979 362,175 354,194 (3) 14,483 119 883 1,574 1,324 1,269 1,194 1,110 1,916 1,510 1,731 683 890 279 Deduction for self-employment tax Amount (4) 30,468 318 278 [::~4074 1 78 1,298 1,476 1,844 1,613 3,019 2,483 3,823 1,630 5,408 6,195 Number of returns (5) 10,126 95 809 1,342 1,035 836 721 683 1,081 898 1,267 539 670 150 Amount (6) 8,388 56 155 509 603 543 549 485 902 789 1,330 582 1,399 487 Payment to an Indi-vidual Retirement Am~wae ent ORAI Number of returns V) 4,097 -5 '40 172 255 390 498 452 812 635 419 141 196 82 Amount (8) 7,91V .10 *69 272 441 667 845 789 1,625 1,052 1,042 354 603 219 Soft-employed health insurance deduction Number of returns (9) 2,215 *20 78 212 205 239 197 140 271 176 283 95 202 97 All returns, total.............. No adjusted gross income 3.. $1 under $5,ODO................... $5,000 under $10,000.......... $10,000 under $15,000........ $15,000 under $20,000 ........ $20,000 under $25,000........ $25,000 under $30,000........ $30,000 under $40,000........ $40,000 under $50,000 ........ $50,000 under $75,000........ $75,000 under $1 00,0DO...... $100,000 under $200,000.... $200,000 or more ................. Statutory adjustments-Continued Size of adjusted gross income Self-employed health insurance deduction --Cont'd Payments to self-employed (Keogh) rob rement plans Number of returns (11) 601 -5 *5 *5 *15 *31 *'W *31 *46 135 69 163 67 Penalty on early withdrawal of sa%dngs Number of returns (13) 638 -5 '35 67 75 65 52 *45 94 64 80 M *26 Alimony paid Adjusted gross income or deficit Amount (10) All returns, total .................................. No adjusted gross income 3....................... Amount (12) 7,902 -5 -3 *4 *28 *59 *73 *102 IM 486 252 1,8M 4,878 Amount (14) 117 .1 .8 8 10 12 9 *4 6 42 8 *3 *5 - Number of returns (15) 564 *15 *15 W *46 '30 *30 *45 51 *50 101 *36 81 *26 Amount (16) 4,468 *236 *11 *191 *116 *131 *236 *165 183 *271 726 *326 1,378 *498 (17) 3,327,848 -13,097 35,549 106,515 157,125 182,638 195,858 200,967 393,610 366,400 667,169 330,349 356,767 347,998 1,537 *12 28 90 99 120 145 97 199 125 207 114 193 109 $1 under $5,000........................................ $5,000 under $10,000............................... $10,000 under $15,000 ............................. $15,000 under $20,000 ............................. $20,000 under $25,000 ............................. $25,000 under $30,000 ............................. $30,000 under $40,000 ............................. $40,000 under $50,000 ............................. $50,000 under $75,000 ............................. $75,000 under $100,000 ........................... $100,000 under $200,000 ......................... $200,000 or more...................................... I The sum of all sources of income less loss, before reduction by statutory adjustments. Total income less Statutory adjustments equals adjusted gross income. 2 Includes ftOOD returns with other statutory adjustments not ~ separately. Other statutory adjustments totaled $59 million. 3 Returns with adjusted gross defictt. * Estimate should be used with caution because of the small number of sample returns on which it is based. NOTES: Detail may not add to totals because of rourKling. All data are based on returns filed through April. 25 Individualincorne Tax Retums, 1993-.. Early-TaxEstimates. I I Table 4.-"Returns with Itemized Deductions: Selocted Income and Doduction Items- by Size of Adjusted Gross Income [All figures are estimates based on samples-number of returns Is In ttmeands;amounts are In millions of dollars] Iternized deductions Size of adjusted gross income Number of returns vWth iternized -deduct Pons Adjusted gross Income Medical and dental expense Total Number of returns .Amount AS). 22,BW 381 .2,191. 2,629 %246 1,913 2,184 2,611 2,623 3,384 369 726 -372 Taxes paid Number of returns (6) 28,710 89 445 810 1,106 1,329 1,627 4,035 4,311 8,166 3,448 ~,570' 774 145,514 M4, 817 1,521 2,103% 2,852 .3,869 11.139" .14.174' 36,021 20,619 26A2N 25,9711 Amount '(2), All returns, total.-...., ....... ......................... ...... . . . $1 under $5,000.............................. ................ $5,000 under $10,000................................................ $10,000 6nder $15,000................................................ $16,000 under $2D,000 ................................................. $20,OOP under $26,0DO ....................... $25,000 under $30,000 ..................................... ........ $30,000 under $40,000.; ............................................ $40,000 under $50.ODO.......................... I ................... W," urxler VS,= .............................................. $75,60b under $100,000.......................................... $100,000 under $200,000 ......................................... $200,000 or more.......... ................................... ..... 1.31 519 876 1,171 1,349 1,687 4,082 4,342 8.227 3,469 2,581) 779 L pjI (4JI -5,028 71 327 536 591 560 Sig 917 610 666 147 69 .16 1,9071618.1. .-1417,973 ---t 3211 1,203 4JOB 5,~00 111,137 8,157 20,665 11,599 30,410 12,706, 46,485 16,189 M284 40.241 194;974 48"S 502,689 1106,966 2D6,652 69,045 338,125 62,687 318,768 46,613 fternized deductions-40onflnued Anterest paid deduction Size of adjusted gross Income Total 2 DeducW34e home mortgage Interest Pald 10 financial institutions Amount (9) 168,704 4W 1,622 2,371 4,049 S,5D7 6,759 18,077 21,114 47,192 24,596 24.2SS 12,662 Number of returns -(10)-23.5513 70 281 496 . 729 1;019 1,337 .3XI 3,632 7,108' 2,920 2,137 567 157,791 "3 11696 2,241 3,876 5,134 6,451 17,118 20,186 ",age 22,937 22,600 10,512 ArnourdPaid tDindiVIC16818Number of returns -(12)2,043' .5 *10 *41 *40 130 105 1181 266 596 381 215 72 Amount (13) 6,174 *46 *26 *67 *140 292 ~39: 7i6 624 1,500 969. 779776 Contributions Number of returns (8) ..Am All returns, total....................... . $1 under $5,000................................. 74 $5,000 under $10,000........................ 286 $10,000urider$15,000...................... SIB $15,000 under $2D,000...................... 765 $20,ObO under $25,000...................... 1.053 $25,000,under $30,000...................... 1,377 $30,000 under $40,000...................... 3,381 $40,000 under $50,000...................... 3,723 $50,000 under $75,000...................... 7,282, $76,000 under $100,000.................... 3,008 $100,000 under $200,000 ....... ...... 2,213 608 s2bo,000 or more............................... '. * * . Footnotes at w4 d t". Number of returns (14) 26,5XI 80 355 695 967 i,127 1,438'. 3,609 3,959 7,697 3,346 2,490 769 Amount (15Y Sol= 38 406 933 1"9 1,529 1,827 6,019 6,000 12,903 8.602 9,544 10,384 26 Individual Income Tax Returns, 1993: Early Tax Estimates [All figures are estimates based on sarnples-number of returns Is In thousands, amounts are In rnfillons of dollars] Table 4.-Ratume with Itemlived Deductions: Selected Income and Deduction items, by Size of Adjusted Gross Income-Continued fternized deductions-CorwUnued Other Sim of a4usted gross income Casualty or thelt loss Number of returns Moving expenses Number of ratUms Miscellaneous deductions after reduction by 2 peroent of aclusted gross Inoome mlsoallaneo us deductions Number of returns (22) 714 .11 *40 '45 *19 *49 106 82 173 85 73 *31 Amount (17) Amount Number of returns (20) 60860 60 123 200 338 289 412 1,102 1.051 1,782 844 479 lei Amount (21) 24, 54 223 468 859 727 1,148 2,798 3,446 5,782 3,641 2,729 2.630 Amount (23) (10) 135 $1 under $5,000................................. $5,000 under $10,000 ........................ $10,000 under $15,000...................... $15,000 under $20,000...................... $20,000 under $25,000...................... $25,000 under $30,000...................... $30,000 under $40,000...................... $40,000 under $50,000...................... $50,000 under $75,000...................... $75,000 under $100,000 ................... $100,000 under $2DO,000.................. $200,000 or more .............................. (18) see .10 46 5 *15 *15 '25 87 110 162 139 97 *16 ~ (19) 3AW .17 *9 *48 W .59 *41 245 478 763 am 585 348 11AW '25 '64 *3 *67 *215 *63 *80 Ism 1,917 *8 *125 *100 '52 *147 290 121 444 422 185 '24 -5 *10 *10 *15 28 *15 *19 *15 *15 *5 I For married persons NbV separately, hunIzed decluctkins cmW have been Irntled I aquelad Wass lr=m exceedled $54= for all other Wpayers, H adjusted gmes Inowns exceeded $108,450. Total kamind deduedons, IxA rot the detalled decludlons, We dkw ton 11M Includes ded We pokes and Inveaftwo Interest' not shown separably. Esfirnate dxwW be Load wlth cautlan becaum d the arnall number of semple rakers on ~ It Is NOTES* Detall may rot add to totals because of romuft All dela we based! on returns Aled ftough April. 27 Individual Income Tax Returns, 1993: Early TaxEstimates. . Table S.-All Retums: Selected Deduction, Tax and Payment Items. by Size of Adjusted Gross Income. [Ail igurie's 'are *6itimatesbased on saMple 's-number of returns Win thousands, amounts we in million's of dollers] Number of Siiia of adjusted gross income returns'with ftekzed deductions Adjusted gross income or deficit Itemized deductions Number of returns (3) Ail rebAma, total............. .........1. -. . 'No adjusted gross incorhie ............ .. $1 ui~r$5,000...... .~ .;.......... ................ $5,000 under $10,000-1 ..................... $16,000 under $15,000 $15,000,undai $26,600.................... .......... $2010PP under $25,000 $25,000 under-$30,000 ....................... $30,000 under $40,000..~ ...... ............... $40,000 under $50,000.. .$50,000 under $~5,000........... M........ ... $75,000 under $100,000... ............ $1 00-000.under $200,000............. $200,000 or more 106,769 1,075 14,215 14,224 12,626. *526 §,744, -7,350' . 1-1,334., -8,2V 11021 3:8762,7.31 820 3,W,846A 3,41 8 35,584 106,5351157,125 1182,777 195,854 201,128 ' 393,717 366.976 330:616 686718 357,412 346,930 29M 1::,. 13f~. 519876 1,171 1,349 1,687 4,082 4,342 8.2171 3,469 2,580 779 S rd deductions Number of Amount, (4) 4117~m 1,203:-' -8,157 11,599 12,706 16,189 40,241 48,236 106,998 59,045 62,687 45 01~ returns (5) 76,477~ -.14,0851 31705 . 1 1;744 9,350 7,398 5,~,W, 7253 3:M 413 151 ~-4,1 Amount (6) 359,991 45.163 62,605..: 57,245 46,882 37,117 28,946 38,865 22,600 16,768 '2,603 946 *251 Exemptions Number of returns (7) 97,194 1,026 7,131 _12,599 12,352 10,470 8,732 7,329 11-,3 ,34 81222 .11,021 3,876- , 2,726 377 Amount (8) 496,901 3, 330' 27, 748 49,9~6 53.214., 47 ,929 41 ,043 .37.904, 62 ,618 , . 51 ,685 75,621 26 ,995 18,420 1,OM 'Taxable income ' Size of adjusted gross income Number Of returns Number of returns (11) 84,091 *10 3, Tax credits income iai. before credits Total Child care credit Amount "(10) ~,Amount, (12) 433~M' 1V Number of returns (13) 11,91M *42 159 2,023 3,003 1,686 570 906 .971 ~ 1,381 544'~: 449,,,--' 42, Amount (1 4~ 6 131 -2 21 652 . 1,641 580 260 351 489 633 wo 474, 19 Number of returns, :(15) 5,421 Amount (16) 2,269 All returns, total ................ No adjusted gross income 2........... . ~--SAIASO 3,551.' 6,9686,942 1 9,896 6,616 11,309 8 203 . 11:006 ~1,871. ?,731,, . 8?0 1, ?,150,181 2,082 15251~ 4~:064 78,786105,5W 118,510.: 252;190 245,468467,790., 242,172 275,359. M,976 $1 uncler$5,000............................ $5,000 under $10,000..; ....................... . . , $11 0,000 under $15,000.. $15,000 under $20,000................... . .. ............ $20,000 under $25,000....................... $25,000 under $30,000.; ..................... $30,000. under, $40,000....................... $40,000.undee $50,000 ...................... $50,000 under $75.000 ......... 7-1-1-1 $75,000 under $100,ODO...................... o,do,*000 under $200,000................. ; ~, . $200 000 or rnore~. i M..~ ...... ................. I 3,471. 6,979 9,937, 6,891 8,616 7,245 11,309 8,203 1 1,OD6 3,871 2,7311;~ 20: -,1 339 2,554 7,061 . 1 1 1, 839 15,834 17,959 40,36440,053 83,268 M 66,218., ~ ~7,9217:v 1 368 492 548 506 807, .816 .11 ,197 438 209 *::!~, uO 196 259 242 305 ~344 517% i88 83 14 Individual Income Tax Returns, 1993: Early Tax Estimates Table S.-All Returns: Selected Deduction, Tax and Payment Items by Size of Adjusted Gross Income -Continued [All figures are estimates based on samples-number of returns is in thousands, annsounts are in millions of dollars] Tax credits-Confinued Earned income credit used W offset income tax before credits Number of returns (23) Sim Credit for the elderly Size of adjusted gross income Numberof returns (17) All returns, total............................ No adjusted gross income 2................. $1 under $5,000.................................. $5,000 under $10,000 ......................... $10,000 under $15,000 ....................... $15,000 under $20,000 ....................... $20,000 under $25,000 ....................... $25,000 under $30,000 ....................... $30,000 under $40,ODO ....................... $40,000 under $50,ODO ....................... $50,000 under $75,000....................... $75,000 under $100,000 ..................... $100,000 under $200,000................... $200,000 or more................................ Foreign tax credit General business credit Amount (18) 48 12 17 15 -4 - Number of returns (19) 1,049 '37 *26 M 67 *41 52 73 113 139 T7 230 165 Amount (20) 969 .1 .1 *3 5 *4 1 21 83 49 83 306 412 Number of returns (21) 156 -5 *10 M -5 *16 *25 '20 *25 *31 Amount (22) 376 11) -4 -'23 *10 .'36 .'26 '36 *43 *198 Amount (24) 2,06 208 64 60 70 *15 - 65 1,700 2,787 1,312 - a 508 1,415 285 - Tax credlits-Continued Size of adjusted gross income All other credits 5 Number of returns (25) AM returns, total............................. No adjusted gross income 2................. $1 under $5,000 .................................. $5,000 under $10,000 ......................... $10,000 under $15,000 ....................... $15,000 under $20,000 ....................... $20,000 under $25,000 ....................... $25,000 under $30,000....................... $30,000 under $40,000....................... $40,000 under $50,000....................... $50,000 under $75,000....................... $75,000 under $100,000 ..................... $100,000 under $200,000 ................... $200,000 or more................................ Footnotes at end of table. 190 -5 *10 -5 -5 '26 *25 '35 *10 *21 *47 Income tax after credits Number of returns (27) 79,931 *103 3,466 6.855 8,ODO 7,998 8,466 7,230 11,295 8,187 11,006 3,871 2,731 815 Alternative n-dnimurn tax Number of returns (29) 289 -5 *21 -5 Total i come Amount (26) 249 -*1 *10 *4 -6 *26 *23 *41 -3 *41 *19 Amount (28) 427,337 *103 337 2,533 6,409 10,199 15,254 17,699 40,012 39,564 82,635 49,722 65,745 97,218 Amount (30) 962 *10 -3 *5 - Number of returns (31) 79JW *163 3,466 6,855 8,000 7,998 8,466 7,230 11,295 8,197 11,006 3,876 2,731 820 Amount (32) 428,M -2D 3 339 2,538 6,409 10,199 15,254 17,699 40,012 39,577 82,667 49,797, 66,044 97.7" *10 w '35 100 82 *12 *31 *75 299 526 29 Individual Income Tax Retums, 1993: EarlY TakEstimates Table S.-All Returns: Selected Deduction, Tax and Payme.nt Items- by Size of Adjusted Gross Income -Continued [All figures are estimates based on samples-number of returns Is In V~x arniounta are in millions of dolianal Total tax Size of adjusted gross income Number of I"Me (33Y All rattinw, total ....................... .......... ... ....... No adjusted dross income 2................................ r $1 under $5,000........ ...........I............................ $5,000 under $10.000............................................ ............ $10,000 under $15,000.................................. $20, $15,000 under $20,000................... ...................... 000 under $25,000................... ...............-.7.......... $25,000 under $30.0W $30,000 under $40,000 .......................... ........... $40,000 under $50.000.............. I ........................................ $60,000 under $75,000............................................... ........ . $75,000 under $100,000..................................................... $100,000 under $2W,000 .......... $200,006 or more............ ................................................. .. ................. '8197" Iola 4.078 7,363 B.M 8,304 8,655 7,251 A1268 8,1183 10,992 3,876. 2,1~1 926 Tax overpaid -Continued Size of adjusted gross Income Amount All returns, total.................................... I.................. No adjusted gross income 2 ................................................. Income tax vAlItteld Number of returns j(35 -:-92.W 159 -10,307 .10,937 10.576 9,417 8,030. 6,943 110.~78 '7,722 10,469 3,696 2.1509 707 Tax overpaid Number of returns (37) 77,721 10,723 It= 10,119 8.397 6568 5:534 7,083 5.929 7.112D .2,055 1.46191 - 30 Amount 34),-)~~ 4%714f:. 596 -~3.221) 7.299 11,088 MW 18,071 411,775 41,138 85XA 51,148 6,066 .98,711 Amount (36) 311killn 6471,796 5,789 10,476 14,530 18,024 20.373, 43,5M 41,479 81,641 45,146 1501038 19,4229 Earned Inc" credit 6 Tax due at time of filing Number of returns (41) 25.M 71 1.973 2,013 2,226 2.045 2,150 1,801 3,387 2,288 .3,887 1,821 1,276 435 Number o,f returns (39) 11,515 *25. Z157 3,611 3,574 2,029 119 7 Amount (40) MM *16 1,159 4,537 4,490 1,142 25 Amount (42) 42~111106 76 370 823 1,217 1,250 I.8D7 1,527 3,612 2,770, 6,658 4,902 61589 11,305 $1 under $5,000 ................................. ................................ $5,000 under $10.000 ............................................... 7-* .... $10,000 under $15,000....................................................... . $15,000 under $20,000.................. $20,000 under $25,000...................... .................... ........... $25.000 under $30',ooo........................................................ $30,000 under $40,000.............. ; ....................... : ................ $40,000 under $50,000....................................................... . $50.000 under $75,000........................................................ $75,000 under $100,000............................... I......... ............ $100,000 under $200,000..... .......;................................... 7 $200,000 or more......... ..................................;................... 2 Includes returns wfth adjusted gross dsW. 3 Includes tax from speolal corroftlon&. ., $7,611 772 2.898 8,762 10.A14 7.702 :5,354 5= 9.243 8,345 .12,977 .4,647 6,5711 4,799 Includes.both the regular standard deduction and the additional standard dedmodon for age 65 or overor for ' Less than $500.000. 5 Includes credit for prior-yew rridnimurn tm credit for I a 1 q on 69fth hum mortgagm and olfw - P Oln r. n m a tex After ore cuts plus alternative minimum UPL Income tax after credits plus any additional Wass. Well 88 aftems" MkdMUM ta~. mWenplippmt tax, tax from mcepture of prior"ar investment credits. sodal security tax W oartain tip, Inoome not reputed to employseand tax on Irdividual IFIselternent Arrengenments (IRA), lassany am md' ma a credit used to offeat these additional Ones. . Estirnate should be used vAth caution because of the WWI nurnber Of SaMpIS WAIMS an which it b based NOTES: Detall may rat add to totals bewu drourdkV.AidNawebmWonmWmfkdlftoughAPrILTax overpaid Includes refundable portion of earned lnoorn6 am dL 30 Individual Income Tax Returns, 1993: Early Tax Estimates Table 6.-Returns with Earned Income Credit-, Selected Earned Income Credit Items, by Size of Adjusted Gross Income [All figures am estimates based on samples-number d returns is in Ovusarxis, amounts are In Millions of dDlIers) PAturns with earned Income credit scliedule Sze of adjusted gross I me Number of returns with earned Income credit I I Adjusted gross Income or deficit (2) 167,451 *-Me 6,226 27,934 46,399 Total earned Income cram a Basic earned Income credit Number d rgWMS 2 Health Insurance credit Number of retums (6) 2,812 .5 159 480 770 Ammint (5) 11301" *23 1,141 4,8M 4.9W Amount (7) 722 .1 30 156 291 Extra crecilt for Wdren born In 1993 Number of returns Amount (8) 1,659 433 452 396 All relluims, total .............. No adjusted gross Income 3 ....... $1 under$5,000.......................... $5,000 under $10,000 ................. $10,000 under $15,000 (1) 14,254 .2s 2,167 3,647 3721 (3) 14,800 '24 1.231 4,920 5.330 (4) 14=0 '25 Z157 3~642 %710 (9) 406 56 149 136 $15,000 under $20.000::::~:::::::::: $20,000 under $25,000............... 3:298 1,407 57,019 30,202 2.758 321 3,267 1,407 2.479 288 974 424 217 27 284 94 58 6 I The nurnkm of returns with the basic orsdit does not equal the modw wbi ft earned Income credit because of Inclusion In ft sample used for ft statistics of pft you mum filed in 1994, for YAch ft credit oDmputation whad a was riot required 2 hXkXJSS MOM used to OffW taX plus rshniabla Cndit $ holudes returns vAth a**W grow deficit * Ealmates should be used Willi caullon bece, of to small nundw of sample rewms on wtich it Is based NKrW: Detall may not add to totals becai of rounding. Ali data am based on returns fled thrmo Awl. 31 I Individual Income Tax Returns,`1993: EarlyTaxEstimates Table 7.-All Returns: Exemptions by Size of Adjusted-Gross Incon-e [All figures we estffrades based an sarriples-nurribers am h thousands] Depenclentexemprtions -Size of adjusted gross income Number of returns Numberof' returns (2) Me', total ........ Ail retu No adjusted gross income $1 under $5,000... .............. ,$5,000 under $10,000........... $I 6,ODO ufide.r $16,000......... $15,ODO under $20,000...*....... $20,000 under $25,000......... $25,0DO under $30,000......... $30,00d under $40,000 $40,000 under $50,000 $50,060 under $75,000 $76,OD6 under $100,000....... $100,000 under $200,000 $200,000 or more.................. 106, 769 1,075-14,215 14,224 12,626, 10,520 8,7~48 7,350 11,334 8,227 11,021 3,876 2,731 820 97,799 1,026 71253 12,623 12,357 10,'474 -8,732 7,329 11,334 8,222 11,021 3,876 2,731 820. Number of exemptions, (3) 213,738 1,453 11,919 21,274 M,638 20,421 17,457 16,093 26.632 il,679 32,127 11.477 8,060 2,509. N umber of returns (4) 97,799 1,026 7,253 12,623 12,357., 10,474 8,732 7,329 11,334, 8,22~ 11,021 3,876 21731 820. Numbe r of ' exemptions -(5) 141,80~ 1,275 81198 14,768 15,480 13,834 11,919 10,45 17,W '14,122 20,127 7,398 5,153 '1,W,, Number 'of returns (6) :39,649 90 .2,274 '3,961 4,189 3,819 3,038 2,86~ 4,882 3,673 6,269 2,252 1,M2 4" ,g Number of . axemptions (7) :71,933 178 3,-=' 6,506 T158 6,~86 .5,538 5,648 9,085' 7,557. 12,000 4,079 2,M 970, Total exemptions Taxpayer axemptions Total Exemptions for children at home Number of returns (8 37,= 1 '94 2J68 3,693 3,816 3,586 2,800 2,693. 4,55i 3,758, 6,099 2,177 1,511 ?-4W Dependent exemptions--Continu~d Size of adjusted gross income Exemptions for children at'home -40onfinued Number of exemptions (9) .......I........................ . Ah~ MUMS, iota[ . , ! I " No adjusted gross income 1 .............................. $1 under $5,000....................................... .... $5,000 undir $iO,000............. :.......................... $10,000 under $15,000....................................... $1 5,CiDO,'uncler $20,OPO..... $26,00a. under $25,000.................................... ...... $26,000'under $30,000.................................... I................. $30,000.under$40,000 .................... $40,000'under $50,000 ..................... .......... $50,000 under $75,000 ................ : .............. : .... . $75,000 under $100,000.................................. $100,006 under $200,000........... ;.................... $200,000 or more............................. : ................ 66,Jw 3,509 5,940 6,368~ 5,901 4,916 4,993 8,266 7,027 11,483 3,878 2,749 955 Exemptions for children a~vay trom home Number of retums ~(10) :11in -5 -6 '15.0 .,U 70 U 147 r .115 ill '50 *36 -5 941' .. -5 -6 -15 *79 W 100 M 197 152 .60 *41 *11 1,686 . -5, *25 1~5' 214 199 179 lim 241 147 186 71 .67 5 Number of exemptions Exemptions for parents Numbee of returns. Numberof exemptions (13) 2,022 5 *46 ISO M 244 214 238 :276 '186 225. 91, 82' -5 Exemptions for other dependents Number of returns (1 4) Number of exemptions (15) Z817 1.35 288 368 288 208 252 135 106 *46 '20 165 372, 473 307 363 346, 185 141' *51 *35 I Includes returns with agusted gross deficit. . Fstirnate should be used with caution because. of the small nurriber of sarriple returns on which it is based. N07S: Detal may not acid to totals because of rounding. All data are based on returns filed through April. 32 Individual Income Tax Returns, 1993: Early Tax Estimates Table 8.-Form 1040, 1040A, Electronically Filed, and Form 104OPC Returns: Number With Selected Forms and Schedules, by Form Type [AJI figures are estimates based on samples-number of returns is in thousands) Form Form or schedule Total 1040 returns (2) 53,856 26,503 25,716 10,315 1,494 12,246 11,422 3,371 1,788 180 9,605 3,201 3,289 126 439 8,959 1,978 552 917 2,884 2,916 883 192 195 978 Form 1040A returns (3) 18,218 N/A 3,462 WA WA NA NIA 4,540 NIA 93 N/A NIA 1,059 NIA NIA NIA N/A N/A N/A WA WA *FZ *5 NIA NIA Electronically filed returns (4) 113,"1 1,977 798 605 159 322 443 6,141 76 *15 396 445 1,227 *16 426 61 *20 *10 80 70 W *6 -5 54 Form 104OPC returns (5) 4,055 1,126 1,321 390 55 392 378 300 64 '20 337 154 250 *5 *6 282 *18 *,W .5 *47 K *19 *11 '28 (1) Total retums............................................................................... ........ . Form or Schedule: A ternized Deductions................................................................. Bt1040A:1 : nterest and Dividend lrxx)me .................................................. Profit (or loss) from Business................................................... C C-EZ Profit (or loss) from Business-Short Form............................... D Capital Gains or Loss ............................................................... E Supplemental Income Schedule .............................................. EIC Earned Income Credit .............................................................. F Farm Income and Expenses.................................................... R/11040A:3 Credit for the Elderly or Disabled............................................. SE Social Security Self-Employment Tax...................................... 2106 Employee Business Expenses ................................................. 24411/ 1040A:2 Credit for Child Care and Dependent Care Expenses............ 3800 General Business Credit.......................................................... 4136 Computation of Credit for Federal Tax on Fuels..................... 4562 Depreciation and Amortization ................................................. 4797 Sales of Business Property ...................................................... Farm Rental Income and Expenses......................................... 4835 4952 Investment Interest Expense Deduction .................................. 6251 Alternative Minimum Tax.......................................................... Passive Activity Loss Limitations............................................. 8582 8606 Nondeductible IRA Contributions ............................................. 8615 Tax for Children Under Age 14................................................ 8814 Parent's Election to Report Child's Interest and Dividends..... Expenses for Business Use of Your Home............................. 8a2q 106,769 29,606 31,297 11,310 1,708 12,960 12.243 14,352 1,928 308 10,338 3,800 5,825 131 461 9,667 2,057 605 927 2,969 3,033 1,005 222 211 1,060 Excludes electronically-filedreturns and computer-generatedreturns (Form 1040 PC), shown separately. Estimate should be used with caution because of the small number of returns on which it is based. N/A - Not applicable. NOTES: Detail may not add to totals because of rourxfirig. All data are based on retums filed through April. Differences exist between the number of returns wfth a specific, characbarisficarid the rtumber with a specific schedule in support of the characteristic, e.g., an indk4dual may attach Schedule A (ftentized Deductions) in error, but use the standard deduction on Form 1040. Therefore, data in this table may not be consistent with the statistics in other tables. 33