IRS Publishes Latest Statistics of Income
The IRS has issued its annual Statistics of Income (SOI) Bulletin in which trends among the nation's taxpayers in income tax return filing, deductions, filing statuses, and more are analyzed. The latest bulletin covers individual income tax returns filed for 1999 as well as corporate, estate, and not-for-profit returns for the same period of time.
An in-depth analysis is presented of 2.43 million individual income tax returns with 1999 adjusted gross income of $200,000 or more.
The SOI Bulletin contains information grouped by many different categories, such as counties, states, zip codes, marital status, type of form filed, and size of income. Taxpayers groups are compared by tax paid, adjusted gross income, exemptions, deductions, tax items, marital status, and more.
Several articles are also contained in the bulletin on topics that include a historical survey of the highest and lowest income tax rates from 1913 to the present, changes in the law, an analyses of changes in S corporation statistics, the reconciliation between corporate book and tax net income, and various statistics on Federal estate tax returns filed.
The material in the SOI bulletin is available on the IRS Web site. You can order a printed copy of the complete bulletin by writing:
Superintendent of Documents
U.S. Government Printing Office
P.O. Box 371954
Pittsburgh, PA 15250-7954
The annual subscription rate is $41 ($51.25 foreign) and a single issue of the bulletin is $34 ($42.50 foreign).
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.