Quarterly the IRS publishes a Statistics of Income (SOI) Bulletin which tracks some
interesting data. According to the recently released information pertaining to the 2008
tax year, IRS attorneys maintain the most recent SOI Bulletin showed more than 4.3
million tax returns had adjusted gross incomes of $200,000 or more. IRS tax lawyers
point out that number represents approximately 3% of all the individual tax returns filed
Other information disclosed by previously published SOI Bulletins revealed that in 2007
approximately 143 million individual tax returns were filed. IRS attorneys indicate of
those, approximately 27 million were filed by taxpayers between the ages of 35 and 44
years old. Significantly, this was the largest group of taxpayers filing individual returns
If you are interested in knowing which State’s taxpayers had the largest adjusted gross
income (AGI) in 2007; IRS attorneys would tell you it was Connecticut. In fact, it was
the only state having an AGI greater than $90,000 in 2007.
Suppose you wanted to know where the majority of foreign recipients of U.S. income
lived in 2008? IRS tax attorneys point out an SOI Bulletin reported that eight (8)
countries had approximately 67% of all the foreign residents receiving U.S. income.
Those countries included the United Kingdom, Cayman Islands, Germany, Japan,
Switzerland, Canada, France and the Netherlands.
Another interesting statistic revolves around the question of gift tax returns. IRS tax
lawyers say that according to an SOI Bulletin, there were almost 235,000 federal gift
tax returns filed in 2008. These returns revealed that approximately 40.2 billion dollars
exchanged hands through reported gifts that year.
If you are interested in purchasing a subscription to the IRS’s SOI Bulletins, IRS
attorneys suggest you may do so through the Superintendent of Documents, U.S.
Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. An annual
subscription is $53.00.
Segal, Cohen & Landis 9100 Wilshire Blvd. Ste. 601E Beverly Hills, CA 90212 (310) 285-3999