Statistics of Income Bulletin for Spring 2011 Available (IR-2011-67)

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.

IR-2011-67,

2011FED ¶46,393

Spring 2011 SOI Bulletin

Other References:

Code Sec. 6108

CCH Reference – 2011FED ¶36,942.50

Tax Research Consultant

CCH Reference – TRC IRS: 12,350

AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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