Article: Federal personal income tax liabilities and payments: revised and updated estimates, 1987-88.

Federal Personal Income Tax Liabilities and Payments: Revised and Updated Estimates, 1987-88

This article compares Federal personal income tax liabilities and payments for 1987-88. The liability series reflects final 1987 and preliminary 1988 data from Statistics of Income, Individual Income Tax Returns. The payment series, which appears in table 3.2 of the "Selected NIPA Tables," reflects estimates presented in the national income and production accounts (NIPA) revisions released in July 1990. The estimates for 1987 and 1988, along with those for 1981-86, are shown in table 1. Estimates for 1949-80 appeared in the May 1986 Survey of Current Business.

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