POST Online Media Lite Edition


High-income individuals filed 4.3m returns

Staff writer |
IRS reported information on high-income individual income tax returns filed for tax year 2010: taxpayers filed almost 4.3 million returns with adjusted gross income of $200,000 or more.

Article continues below

These high-income returns represent about 3 percent of all returns filed for the tax year, according to The U.S. Internal Revenue Service (IRS).

The Statistics of Income (SOI) Division produces the SOI Bulletin on a quarterly basis. Articles included in the publication provide the most recent data available from various tax and information returns filed by U.S. taxpayers.

For tax years 2007-2009, data from individual income tax returns show that taxpayers realized the highest net capital gains of $914 billion in 2007, while only $37 billion were reported for 2009.

The municipal bonds market was still dominated by almost 22,000 tax-exempt governmental bonds issued in 2010, raising $293.6 billion in proceeds for public projects, such as schools, transportation infrastructure and utilities.

Executors for estates of nonresident aliens filed 1,887 tax returns in filing years 2009-2011. Returns filed were predominantly for estates of decedents who died between 2007 and 2010, and data from these returns showed an overall decline in the total gross estate and net estate tax owed.

For tax year 2010, about 132 U.S. entities received 3,200 requests to participate in unsanctioned international boycotts, down from 160 U.S. entities and 3,500 requests in 2009.

What to read next

Canadian fund returns mostly positive in August
Free tax filing assistance across New York State
Over 4 million tax returns submitted in South Africa