From the category archives:

tax stats

Call for Tax Papers

19 December 2007

The IRS Statistics of Income Division has issued a request for paper for its 2008 conference to be held in Washington, DC. According to the IRS, general topics of interest include tax compliance, taxpayer burden, tax administration, and the nature and behavior of the taxpayer population. For example, we welcome proposed papers about closing the [...]

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Fix The Tax Code Friday: Flat Tax

11 May 2007

A number of the presidential candidates have suggested replacing the current tax system with a more simple program. It feels like it shouldn’t be hard to do since Title 26, the Tax Code, is the largest section of the U.S. Code. To put the laws and related documents on paper now takes more than 55,000 [...]

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Death and Taxes… Actually Certain?

15 January 2007

As Congress continues to ponder whether the federal estate tax makes any sense, the Citizens for Tax Justice weighs in with some IRS statistics.  Consider this:  In 2004, there were 2,429,024 Americans who died.  Only 18,431 of those Americans were required to pay federal estate tax in 2005.  If you’re keeping score, that’s .8% – [...]

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Data, data everywhere… and only a few dollars a pop!

18 December 2006

That’s right.  The IRS has announced that Zip Code Area tables for Tax Years 2002 and 2004 are available for purchase.  That’s right, purchase.  If you’re racking your brain to remember, yes, this information used to be available for free (you can see the 2001 data here).  The cost is now $25 per state or [...]

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Hey you, EU!

26 July 2006

In 2002, the 7,500 largest foreign corporations controlled by large U.S. multinational corporations held $5.8 trillion in assets and reported receipts of $2.3 trillion.  Of these corporations,  28.9% sold goods, 26.1% sold services, and 24.2% were in the finance, insurance and real estate rental and leasing industries. More than half of foreign corporations controlled by [...]

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Give a little bit…

25 July 2006

For tax year 2003 (the most recent tax year for which data is available), individuals reported noncash donations valued at $36.9 billion.  These donations were reported on federal form 8283, Noncash Charitable Contribution, which is required when a taxpayer makes noncash donations which exceed a total $500.  Not surprisingly, corporate stock was the largest percentage, [...]

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S-s-s-s-smokin’!

20 July 2006

Yet again, s corporations are the most popular corporate entity in the US, representing a whopping 61.9% of all corporate entities! Nearly 3.3 million S corporation returns were filed for the tax year 2003, an increase of 5.9% from 2002.  Total net income reported by S corporations increased to $213.7 billion for Tax Year 2003 [...]

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Why do I feel like somebody’s watching me?

18 March 2006

Because maybe there is somebody watching me.  And that somebody is Uncle Sam. Yep, fresh off our firm’s annual unemployment compensation audit (we’ve been chosen almost every year in a random audit – luckily, no worries), I read today that IRS released a report that more than 1.2 million individual federal income tax returns (forms [...]

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New Year, New Tax Filing Season

3 January 2006

While the new year started for most folks on January 1, the new tax year begins for IRS on today, January 3. Just this week, the IRS will send 17.7 million 1040 tax packages to taxpayers who have previously filed paper returns. This number is on the decline as more taxpayers opt for electronic filing. [...]

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PA Tax Data

29 July 2005

From the Pennsylvania Revenue Department: REVENUE DEPARTMENT RELEASES JULY COLLECTIONS HARRISBURG: Secretary of Revenue Gregory C. Fajt today reported that the state collected $1.7 billion in General Fund revenue in July, the first month of the 2005-2006 fiscal year. Sales Tax receipts totaled $781.5 million; Personal Income Tax revenue was $635.8 million; and Corporation Tax [...]

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