Tuesday, June 03, 2008

IRS Issues Spring 2008 Statistics of Income Bulletin

Late last week the IRS released the Spring 2008 issue of the Statistics of Income Bulletin. The document features data from the 138.4 million individual tax returns filed for the 2006 tax year and data from high-income returns filed for the 2005 tax year.

According to the IRS announcement, the bulletin also features articles on the following:
  • Trends in non-cash charitable contributions, including a big drop in car donations in 2005 that was likely related to tax law changes.
  • Statistics on cash flows and holdings of Individual Retirement Accounts (IRAs). For example, at the end of 2004, almost 51 million taxpayers held roughly $3.3 trillion in IRAs.
  • Repatriation of funds by U.S. corporations due to the one-time received dividend deduction enacted in the American Jobs Creation Act of 2004.
  • Statistics on federal estate tax returns with gross estates greater than $1.5 million.
  • Growth in the number and assets of taxable Real Estate Investment Trust subsidiaries.

To see all the information presented in the bulletin, check out it’s page on IRS.gov.

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