Wednesday, March 4, 2009
Yesterday, the IRS issued the winter 2009 issue of the Statistics of Income Bulletin. Below is a portion of the text:
WASHINGTON —The Internal Revenue Service today released the winter 2009 issue of the Statistics of Income Bulletin, which features information on 138.4 million individual income tax returns filed for tax year 2006. Of those returns, about 93 million, or 67 percent, were taxable, which means that the taxpayer reported total income tax greater than zero. The total number of taxable returns in tax year 2006 was up 2.4 percent from 2005.
Adjusted gross income on these 93 million returns totaled more than $7.4 trillion, which was up 8.5 percent from 2005. Total income tax on these returns totaled approximately $1 trillion, up 9.5 percent from 2005. (Adjusted gross income is total income, as defined by the tax code, less statutory adjustments - primarily business, investment or certain other deductions.)
The average tax rate for taxable returns was 13.8 percent, an increase of approximately 0.2 percentage points from 2005.
Taxpayers in the top 1 percent of adjusted gross income reported adjusted gross income of at least $388,806 in tax year 2006. This group accounted for 22.1 percent of all adjusted gross income for 2006, up 0.9 percentage points from the prior year. This group also accounted for 39.9 percent of the total income tax reported, an increase from 39.4 percent in 2005.
Taxpayers in the top 5 percent of adjusted gross income reported adjusted gross income of at least $153,542. This group accounted for 36.7 percent of adjusted gross income and 60.1 percent of total income tax.
The Bulletin also includes articles on the following:
. . .
- Charitable and other tax-exempt organizations reported more than $10 billion in gross unrelated business income for tax year 2005. Between 2004 and 2005, total unrelated business income tax liability increased by 49 percent to $543.3 million. (emphasis added)
. . .
The Statistics of Income Bulletin is available from the Superintendent of Documents, U.S. Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. The annual subscription rate is $53 ($74.20 foreign), single issues cost $39 ($48.75 foreign).
For more information about these data, write to the Director, Statistics of Income (SOI) Division, RAS:S, Internal Revenue Service, P.O. Box 2608, Washington, DC 20013-2608; call Statistical Information Services at (202) 874-0410; or send a fax to (202) 874-0964. These are not toll-free numbers.
For the full bulletin, please click here.