Statistics of Income Bulletin | Ed Slott and Company, LLC

Statistics of Income Bulletin

 

By Marvin Rotenberg, IRA Technical Expert

The IRS has released the winter 2012 issue of the Statistics of Income (SOI) Bulletin. The SOI Bulletin is produced on a quarterly basis and provides the most recent data available from various returns filed by U. S. taxpayers. This latest SOI Bulletin includes data on personal wealth in the U. S. for 2007 and information from individual income tax returns filed for 2009. Information related to several other categories is also provided.

Taxpayers filed 140.5 million individual tax returns for the 2009 tax year. Preliminary data for the 2010 tax year showed taxpayers filed 142.9 million individual income tax returns (a 1.7% increase from 2009) and it appears that trend will continue into 2011. With over 140 million returns being submitted to the IRS it’s no wonder that you just might have to wait a little longer for any refunds. But, as always, the quickest way to file your return and have it accepted and processed by the IRS is by using E-File. That is also the fastest way to get your refund.

Individual income tax returns for 2009, based on marginal tax rates (ordinary income), were broken down as follows:

  • The largest share (39.9%) of returns was for income in the 15% marginal tax rate. These returns generated 16% of income tax.
  • The second largest share (25.8%) of returns was in the 10% marginal rate. These returns generated 1.5% of income tax.
  • The third largest share (20.7%) of returns was in the 25% marginal rate. These returns generated 27.8% of income tax.
  • The fourth largest share (3.6%) of returns was for income in the 28% marginal rate. These returns generated 12.1% of income tax.
  • The fifth largest share (1.4%) of returns was for income in the 33% marginal rate. These returns generated 10% of income tax.
  • The six largest share (0.8%) of returns was for income in the 35% marginal rate. These returns generated 27.4% of income tax.

We thought you would like to know just how hard the IRS is working for your money.
You can access the complete SOI Bulletin by clicking here: http://www.irs.gov/pub/irs-soi/12winbul.pdf 
 

-By Marvin Rotenberg and Jared Trexler

 

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