Taxing For Dollars

News and Numbers

Taxing For Dollars

It’s the most un-wonderful time of the year for most Americans. Tax time. Sweating to get those federal income tax forms to the Internal Revenue Service before the feared deadline.

But while you’ve been staring at your own tax numbers, ever wondered exactly how much money is raised through our federal income tax from individuals and corporations?

Here’s a look at the tally for the 2015 tax year (forms filed in April 2016), which is the most recent information available from the IRS.

Summary of Collections Before Refunds by Type of Return, FY 2015 1

Individual income tax



Corporation income tax

2,216,263 2


Employment taxes



Excise taxes



Gift tax



Estate tax





Selected Information from Returns Filed

Corporation Returns (TY 2013)3

Number filed with assets of $250 million or more    16,158

Percent of total corporation net income for firms with assets of $250M or more    3.4%

Percent of total income tax after credits for firms with assets of $250M or more    86.3%


S Corporation Returns (TY 2013)3

Number of returns    4,257,909


Partnership Returns (TY 2014)3

Number of returns    3,611,255


Individual Returns

Top 1-percent adjusted gross income

(AGI) break (TY 2014)3    $465,626

Top 10-percent AGI break (TY 2014)3    $133,445

Median AGI (TY 2014)3    $38,171


Percent that claim standard deductions (TY 2014)3    69.0%

Percent that claim itemized deductions (TY 2014)3    29.6%

Percent e-filed (TY 2015) through 4/28/2016 4    93.6%

Percent using paid preparers (TY 2014)3    55.0%


Number of returns with AGI of $1M or more (TY 2014)4    410,106

   State with the highest number—California (TY 2014)    65,845

   State with the lowest number—Vermont (TY 2014)    530


Number of individual refunds (TY 2014) (millions)3    112.0

Individual refund amount (TY 2014) (billions of $)3    $319.6

Average individual refund amount (TY 2014)    $2,854


Earned income tax credit (TY 2014)3

   Number of returns with credit (millions)    28.5

   Amount claimed (billions of $)    $68.3


Nonprofit Organizations (TY 2012) 3, 5

Number of returns (Forms 990 and 990-PF filers)    372,947

Assets controlled by nonprofits (trillions of $)    $3.9


Taxpayer Assistance (FY 2015)1

Number of call and walk-in contacts    61,340,034



FY—Fiscal Year, TY—Tax Year

1. Source—2015 IRS Data Book

2. Excludes S corporations

3. Source—SOI data

4. Source—IRS Master File System

5. Organizations tax exempt under Internal Revenue Code section 501(c) (3)

Categories: Operations