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Annual Report of the Social Security Board of Trustees Released

It contains some useful information.

• The IRS Commissioner has released his most recent annual report, and it contains some interesting and useful information. The report, which describes 1989 data (the most recent available), is a compendium of statistical data and tables. Here is a run-down of the information most useful to church leaders: (1) The IRS processed 199.6 million tax returns in 1989 (a 2.9% increase over 1988). About half of these returns were individual income tax returns. (2) $1.01 trillion in taxes was collected in 1989 (up 8.4% over 1988). These taxes consisted of personal income taxes ($515 billion), corporate income taxes ($117 billion), social security taxes ($345 billion), and excise taxes ($26 billion). (3) Taxpayers are encouraged by the IRS to contribute donations to reduce the federal deficit. For 1989, 529 taxpayers responded with total contributions of $204,000. (4) The IRS audited 1.07% of ...

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  • September 2, 1991

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