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GAO-02-638R 1 (2002-04-11)

handle is hein.gao/gaocrptaovk0001 and id is 1 raw text is: SGAO Accountability * Integrity * Reliability United States General Accounting Office Washington, DC 20548 April 11, 2002 The Honorable Dick Armey Majority Leader House of Representatives Subject: Income Ranges of Taxpayers Who May Have Overpaid Federal Taxes by Not Itemizing Dear Mr. Armey: As was discussed with your staff, this letter provides some information on the income ranges of taxpayers who may have overpaid federal taxes by not itemizing. This information relates to our March 29, 2002, report Tax Deductions: Further Estimates of Taxpayers Who May Have Overpaid Federal Taxes by Not Itemizing (GAO-02-509) and was developed in accordance with generally accepted government auditing standards. As shown in table 1, we estimate that of the returns filed for tax year 1998 by taxpayers who may have overpaid federal taxes by not itemizing, 53 percent showed adjusted gross incomes of $50,000 or less. Eleven percent of the returns showed adjusted gross incomes of more than $75,000. Table 1: Distribution of Returns, by Adjusted Gross Income, on Which Taxpayers May Have Overpaid Taxes because Itemizable Deductions May Have Exceeded the Standard Deduction, Tax Year 1998 Returns on which mortgage interest and points and state and local income tax plus imputed charitable contributions, real estate and personal property taxes Estimated 95% confidence exceeded the standard Adjusted gross returns interval Percentage of deduction income range (in thousands) (in thousands) returns _<$25,000 288 198-401 13 $25,001-$50,000 853 588-1,177 40 $50,001-$75,000 774 456-1,140 36 $75,001-$100,000 179 119-257 8 >$100,000 62 37-98 3 Total 2,157 1,602-2,838 100 Note: Totals may not sum because of rounding. Source: GAO analysis of Statistics of Income and other IRS data and Department of Labor consumer expenditure survey data. GAO-02-638R Income Ranges

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