Wednesday, May 30, 2012
Following up on Saturday's post, IRS Releases Spring 2012 SOI Bulletin:
- Accounting Today, 20,752 High-Income Taxpayers Had No Income Tax Liability
- ataxingmatter, One in Four of Those With $200,000 or More in AGI Paid No Federal Taxes in 2009
- Bloomberg, IRS Finds One in 189 High Earners Paid No 2009 U.S. Tax
- Huffington Post, New IRS Study: More Than 10,000 Wealthy American Households Paid No Income Tax In 2009
- Political Capital, Top Half-Percent Who Pay No Taxes
Spring 2012 SOI Bulletin: High-Income Tax Returns for 2009, by Justin Bryan:
The Tax Reform Act of 1976 requires annual publication of data on individual income tax returns reporting income of $200,000 or more, including the number of such returns reporting no income tax liability and the importance of various tax provisions in making these returns nontaxable. This article presents detailed data for the almost 4 million high-income returns for 2009, as well as summary data for the period 1977 to 2008. ...
For 2009, there were 3,924,489 individual income tax returns reporting AGI of $200,000 or more, and 3,975,288 with expanded income of $200,000 or more. These returns represent, respectively, 2.793% and 2.830% of all returns for 2009. ... For 2009, of the 3,924,489 income tax returns with AGI of $200,000 or more, 20,752 (0.529%) showed no U.S. income tax liability; and 10,080 (0.257%) showed no worldwide income tax liability. ...