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37 SOI Bull. 1 (2017-2018)

handle is hein.tera/stadeint0037 and id is 1 raw text is: The Statistics of Income (S01) Bulletin is issued quarterly by the Statistics of Income Division of the Internal Revenue Service. The report provides the earliest published annual fi- nancial statistics obtained from the various types of tax and information returns filed, as well as information from periodic or special analytical studies of particular interest to students of the U.S. tax system, tax policymakers, and tax administrators. Selected historical and other data tables, previously published in the spring issue of the Bulletin are now only available on SOI's pages of the IRS Web site (https://www.irs.gov/uac/ soi-tax-stats-historical-data-tables). Information on the availability of supplemental data on the topics included in this issue or other SOI subjects, may be ob- tained by sending an email to SOI's Statistical Information Services at sis(irs.gov, or by writing to the Director, Statistics of Income Division RAAS:S, Internal Revenue Service, 1111 Constitution Avenue, NW, K-Room 4112, Washington, D.C. 20224. The S01 Bulletin is prepared under the direction of Wayne Kei, Chief, Data Dissemination Section. Paul Bastuscheck (layout and graphics), Clay Moulton (layout and graphics), Lisa Smith (layout and graphics editor), and Camille Swick (layout and graphics) are the editorial staff who prepare the manuscript. Carla Borden, Emily Gross, Jim Hobbs, and Beth Kilss also made major contributions in the production of this issue. Views expressed in the articles are those of the authors and do not nec- essarily represent the views of the Treasury Department or the Internal Revenue Service. NOTE: When using information from this report, cite the publi- cation as follows- Internal Revenue Service Statistics of Income Bulletin Summer 2017 Washington, D.C. Inside This Issue: High-Income Tax Returns for Tax Year 2014 2 by Justin Bryan For Tax Year 2014, there were almost 6.3 million individual income tax returns with an expanded income of $200,000 or more, accounting for 4.2 percent of all returns for the year. Of these returns, 9,692 had no worldwide income tax liability. This was a 24.2-percent decline from the number of returns with no worldwide income tax liability in 2013, and the fifth decrease in a row since the all-time high of 19,551 HINTs in 2009. Individual Noncash Contributions, Tax Year 2014 57 by Pearson Liddell and Janette Wilson The number of individual returns filed by taxpayers with a Form 8283 attached increased 3.9 percent, from 7.7 million for Tax Year 2013 to 8.0 million for Tax Year 2014. Total donations increased 30.1 percent for 2014, up from $46.4 billion for the previous year. Corporate stock donations increased 48.0 percent from $19.7 billion for 2013 to $29.2 billion for 2014, while ease- ments more than doubled to $3.2 billion. Of the $60.4 billion in noncash donations reported, over half went to foundations ($18.9 billion or 31.4 percent of the total) and large charitable organizations ($12.2 billion or 20.2 percent of the total). Corporate Foreign Tax Credit, Tax Year 2013 82 by Scott Luttrell For Tax Year 2013, corporations filing a corporation income tax return reported a record $118.3 billion in foreign tax cred- its. on Form 1118, Foreign Tax Credit-Corporations. This was an increase of $8.7 billion from the amount claimed for 2012. Taxable foreign-source income from corporations claiming the foreign tax credit increased 9.8 percent from 2012, to $460.9 billion for 2013, while their current foreign taxes paid increased by less than 1 percent to $126.2 billion. Firms in manufacturing industries accounted for 58 percent of all foreign tax credits. European countnies accounted for 39.3 percent of taxable for- eign-source income and 46 percent of current year foreign taxes.

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