The Statistics of Income (SOI) Bulletin for spring 2011 is now available. This bulletin features information on high-income individual income tax returns filed for tax year 2008. Taxpayers filed more than 4.3 million returns with adjusted gross income of $200,000 or more for tax year 2008, which represents 3 percent of all individual returns filed for 2008.
The IRS 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. This issue of the SOI Bulletin also includes articles on the following:
–Individual income tax data, by age of taxpayer. For tax year 2007, 27.1 million individual income tax returns were filed by taxpayers who were ages 35 to 44, the most returns filed by any age group in that year.
–Individual income tax data, by state. Individual income taxpayers from Connecticut reported the highest average adjusted gross income (AGI) in the United States for tax year 2007. Connecticut was the only state for which average AGI exceeded $90,000.
–Foreign recipients of U.S. income. For tax year 2008, U.S. source income payments to foreign persons totaled $659.7 billion. Eight countries, including the United Kingdom, Cayman Islands, Germany, Japan, Switzerland, Canada, France and the Netherlands, accounted for almost 67 percent of all income paid to foreign persons.
–International boycott reports. For tax year 2008, 138 U.S. entities received about 3,700 requests to participate in boycotts unsanctioned by the United States.
–Gift tax returns. Individuals filed almost 235,000 federal gift tax returns to report $40.2 billion in assets transferred during 2008.
Printed copies of the Statistics of Income Bulletin are available from the Superintendent of Documents, U.S. Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. For more information about this data, write to the Director, Statistics of Income (SOI) Division, RAS:S, Internal Revenue Service, P.O. Box 2608, Washington, D.C. 20013-2608.
Spring 2011 SOI Bulletin
Code Sec. 6108
CCH Reference – 2011FED ¶36,942.50
Tax Research Consultant
CCH Reference – TRC IRS: 12,350