Individual income tax returns, 1999 - This Issue at a Glance - Brief Article - Statistical Data Included

Taxpayers filed 127.1 million returns for Tax Year 1999, a 1.8-percent increase over the previous year. For 1999, adjusted gross income (less deficit) (AGI) rose 8.1 percent to almost $5.9 trillion, following a 9.0-percent increase for 1998. Total taxable income increased faster than AGI for 1999, with a percentage increase of 9.4 percent. For 1999, total income tax increased 11.3 percent, resuming a trend of higher growth rates than both AGI and taxable income, which was temporarily broken in 1998 when it increased only 7.8 percent. Total income tax as a percentage of AGI increased to 15.0 percent from 14.6 percent for 1998. Unemployment compensation rose for the first time in 7 years, increasing by 4.3 percent for 1999 to $17.5 billion.

The largest components of AGI, salaries and wages and net capital gain (less losses), increased 6.5 percent and 21.7 percent, respectively. A number of other income items contributed to the substantial growth of AGI: taxable Individual Retirement Arrangement distributions increased 17.6 percent; partnership and S corporation net income (less losses) increased 12.7 percent; and taxable pensions and annuities increased 8.4 percent. Total tax credits increased 19.4 percent to $35.9 billion for 1999. Much of this growth can be attributed to growth in the child tax credit and education credits, which increased 28.1 percent and 41.3 percent, respectively.

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