Statistics of Income Data Releases
Statistics of Income Data Releases
Issue Number: 2023 – 12
Inside This Issue
- 2023 Calendar Year Projections of Information and Withholding Documents for the United States and IRS Campuses (Publication 6961) Update
- Heavy Highway Vehicle Use Tax Returns, Calendar Years 2014-2023, Q2 Release
- Fiscal Year Return Projections for the United States: 2023-2030, Publication 6292 (Spring 2023)
- 2022 Program Documentation: Data Items by Forms and Schedules (Publication 5384)
- Foreign-Controlled Domestic Corporations, Tax Year 2020
- 2020 Corporation Income Tax Returns Complete Report (Publication 16)
- U.S. Corporation Returns with a Foreign Tax Credit, Tax Year 2020
- 2020 Corporation Income Tax Returns Line Item Estimates (Publication 5108)
The 2023 Calendar Year Projections of Information and Withholding Documents for the United States and IRS Campuses is now available on SOI’s Tax Stats webpage. The publication presents multi-year projections of the number of information and withholding returns to be filed with the IRS by processing categories important to the IRS planning operations, including form type and filing medium. The forecasts of selected paper returns are also shown by IRS Processing Campus locations.
2. Heavy Highway Vehicle Use Tax Returns, Calendar Years 2014-2023, Q2 Release
The Q2 release of the Heavy Highway Vehicle Use Tax Returns for Calendar Years 2014-2023 is now available on SOI’s Tax Stats webpage. This study provides the number of electronically filed Heavy Highway Vehicle Use Tax Returns (Forms 2290) by month at the national level. SOI updates these data two times per calendar year. This study is included in a series of statistical Projections of Federal Tax Return Filings, Supplemental Tables.
3. Fiscal Year Return Projections for the United States: 2023-2030, Publication 6292 (Spring 2023)
The Spring 2023 issue of Fiscal Year Return Projections for the United States (Publication 6292) is now available on SOI’s Tax Stats webpage. This semiannual publication contains United States-level projections of the number of tax returns for Fiscal Years 2023–2030 of approximately 50 different individual, business, and tax-exempt return types (e.g., Forms 1040, 1120, 941, and 990) to be filed by major return categories and by IRS business operating divisions. There is also additional detail by medium of filing (paper versus electronic) and actual number of returns filed for FY 2022.
4. 2022 Program Documentation: Data Items by Forms and Schedules (Publication 5384)
The 2022 Program Documentation: Data Items by Forms and Schedules (Publication 5384) is now available on SOI’s Tax Stats webpage. This publication contains the federal tax forms, schedules, and information documents selected for SOI’s Tax Year 2022 studies. It is organized in two parts: SOI works in collaboration with data users inside and outside of the federal government to develop the information collected for each SOI study. SOI bases most of its programs on stratified samples of returns for which data are collected prior to IRS audits; therefore, the data represent information as originally reported by taxpayers. Each tax form included in the SOI program is represented in this volume. The specific data items captured for each study are indicated on facsimiles of the forms and schedules. Data from certain forms and schedules are collected periodically, rather than annually. For this reason, the contents of this publication will vary somewhat from year to year.
5. Foreign-Controlled Domestic Corporations, Tax Year 2020
Tables for the Tax Year (TY) 2020 Foreign-Controlled Domestic Corporation study are now available on SOI’s Tax Stats webpage. The tables, based on data from the Form 1120 series, include balance sheets, income statements, and tax-related data for domestic corporations with 50-percent-or-more stock ownership by a single foreign «person.» The data are classified by industry group, country of ownership, age of the corporations, and new for this year, sizes of total assets and business receipts. There were 137,000 federal income tax returns filed by foreign-controlled domestic corporations (FCDCs) for TY 2020. These returns accounted for just 2.1 percent of all corporate returns filed for that year. However, the FCDCs were often large companies, with a combined $14.9 trillion of assets and $5.5 trillion of receipts. They reported 12.0 percent of the assets and 16.4 percent of the receipts of all corporations. Manufacturing companies accounted for $2.4 trillion of the FCDC receipts. Domestic companies with Japanese owners produced $0.8 trillion of receipts, followed closely by owners from the United Kingdom and the Netherlands ($0.7 trillion each). Established corporations (those incorporated in 2017 or before) produced $5.2 trillion of receipts. Large corporations, each with $2.5 billion or more of assets and those each with $1.0 billion or more or business receipts, accounted for $3.6 trillion and $4.1 trillion of receipts, respectively.
6. 2020 Corporation Income Tax Returns Complete Report (Publication 16)
Tables presenting statistics from Forms 1120, U.S. Corporation Income Tax Returns, are now available on SOI’s Tax Stats webpage. These tables present comprehensive data on corporation income tax returns with accounting periods ending July 2020 through June 2021. Statistics are presented by industry, asset size, business receipts size, tax form type, and other selected classifiers. Separate tabulations of data reported on Form 1120-S, U.S. Income Tax Return for an S Corporation, are also included.
7. U.S. Corporation Returns with a Foreign Tax Credit, Tax Year 2020
Statistics based on Foreign Tax Credit—Corporations (Form 1118) for Tax Year 2020 returns are now available on SOI’s Tax Stats webpage. Table 1, U.S. Corporation Returns with a Foreign Tax Credit, includes statistics for the number of returns, and foreign-source income, deductions, and taxes paid, accrued or deemed paid. These statistics are available by major and selected minor industries. Table 2 includes statistics for foreign-source gross income, deductions, and taxes paid, accrued, or deemed paid by selected country. Table 3 includes statistics for the number of returns, foreign-source gross income, deductions, and taxes paid, accrued, or deemed paid by category of foreign income for which separate credit was computed.
8. 2020 Corporation Income Tax Returns Line Item Estimates (Publication 5108)
The 2020 Corporation Income Tax Returns Line Item Estimates (Publication 5108) is now available on SOI’s Tax Stats webpage. The publication presents estimates of frequencies of taxpayer entries recorded on the applicable lines of the forms and schedules filed with corporation income tax returns as shown in the 2020 Statistics of Income (SOI) Corporation Income Tax Return Complete Report (Publication 16). Publication 5108 also contains corresponding population estimates of dollar amounts recorded on those lines (as applicable). Tax Year 2008 is the first year of availability for these data.