The Internal Revenue Service (IRS) made Statistics of Income - 2014 Individual Income Tax Returns Complete Report (Publication 1304) available to the public on August 31, 2016. Highlights include:
- 148.6 million individual returns filed for tax year 2014, an increase of 0.9% from the previous year;
- an average tax rate for 2014 of 14.1%, representing a 0.5% increase from the previous year;
- a 7.4% increase from the previous year in adjusted gross income (less deficit), meaning a rise of $677 billion; and
- a 1.7% increase in the number of returns claiming the standard deduction.
To read the full report, and to access reports for other years, click here.