1986 Tax Reform Act Changes Available

WASHINGTON - 1986 Tax Reform Act Changes Available in the Statistics of Income--1987, Individual Income Tax Returns Report

Taxable income decreased by 5 percent while total income tax increased by 0.5 percent in 1987. These and other statistical data regarding individual income tax returns and the effect of the 1986 Tax Reform Act are published in the Statistics of Income--1987, Individual Income Tax Returns annual report.

Major changes in income and tax distribution occurred from 1986 to 1987 as a result of the Tax Reform Act of 1986. The number of returns filed for tax year 1987 increased by approximately $292 billion.

The report, required by section 6108 of the Internal Revenue Code, is based on a sample selected from more than 106 million returns filed during calendar year 1988, and provides estimates of taxpayers' income, deductions, exemptions, credits and tax. Major classifiers used are size of adjusted gross income, marital status, taxable and non-taxable returns, tax status and type of tax computation. A brief text reviews the requirements for filing a tax return, changes in the law, a retrospective income classifier and a description of the sample. The report also provides definitions used in the tables, copies of tax forms and tabulations of data from high-income returns.

Publication 1304, Statistics of Income--1987, Individual Income Tax Returns annual report, as well as other Statistics of Income publications are for sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.

Previous | Next

1990 IRS News Releases | News Releases Main | Home