Taxing Statistics…Determing Where You Stand in Your Piece of the Pie
On the IRS web site link below you can find information about year to date filings of 2007 tax returns and collections thereof current through this tax year. There you will learn that U.S. corporations pay roughly one-third of the total tax bill that individuals pay. There have been approximately 138 million personal income tax returns filed year to date versus only 2.5 million corporate returns. Payroll tax returns total approximately 31 million returns filed with the IRS with roughly $850 million being collected. Although estate taxes have been in the news a tremendous amount receiving a dis-portioned amount of coverage over the last ten years, only $24 million has been collected on estate returns year to date.
There on www.irs.gov you can also learn that only thirteen thousand of the filed corporate returns had assets of over $250M or 76.2% of the returns filed for the 2005 tax year. THe median filed return for personal returns for 2006 reflected an AGI of $31,987 and if you had adjusted gross income of over $108,904 you were in the top ten percent of taxpayers nationwide. You can also learn much more about taxpayers and their varying demogrpahics including that number of taxpayers who had AGI/Adjusted Gross Income of over one million dollars was 355 thousand as well as that California was the state who had the highest number of million dollars income earners with 52,590. To learn more visit http://www.irs.gov/taxstats/article/0,,id=102886,00.html
Sphere: Related Content