Individual income tax returns, preliminary data, 1996

Taxable income, tax liability and number of individual returns filed all increased in 1996. Total taxable income rose to $3.1 billion, 10.6% over 1995 amounts. Total tax liability increased by 13% over the prior year to reach $661.1 billion. Individual returns filed for 1996 numbered 120.6 million, up 2.1% from 1995. Tax deduction amounts rose by 6.4%, totaling $991.4 billion for the year.