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Summary of Collections Before Refunds by Type of Return, FY 2007 [1]
Type of Return
|
Number of Returns
|
Gross Collections
(Millions of $)
|
|
Individual income tax [1]
|
138,893,908
|
1,366,241
|
|
Corporation income tax [1]
|
2,507,728 [2]
|
395,536
|
|
Employment taxes [1]
|
30,740,592
|
849,733 [3]
|
|
Excise taxes [1]
|
907,165
|
53,050
|
|
Gift tax [1]
|
252,522
|
2,420
|
|
Estate tax [1]
|
49,924
|
24,558
|
Selected Information from Returns Filed
|
Corporate Returns (TY 2005) [3]
|
|
Number filing with assets $250M or more
|
13,226
|
| Percent of total corporate net income for firms with assets $250M or more |
76.2%
|
|
Individual Returns
|
| Top 1-percent Adjusted Gross Income (AGI) break (TY 2006) [3,4] |
[P] $388,806
|
| Top 10-percent AGI break (TY 2006) [3,4] |
[P] $108,904
|
|
Bottom 10-percent AGI break (TY 2006) [3,4]
|
[P] $5,793
|
|
Median AGI (TY 2006) [3,4]
|
[P] $31,987
|
| Percent that claim standard deductions (TY 2006) [3] |
[P] 62.6%
|
| Percent that claim itemized deductions (TY 2006) [3] |
[P] 35.5%
|
|
Percent e-filed (TY 2007) thru 4/19/2008 [5]
|
62.2%
|
|
Percent using paid preparers (TY 2006) [3]
|
[P] 59.2%
|
| Number of returns with AGI $1M or more (TY 2006) [5] |
355,204
|
| State with the highest number-California (TY 2006) |
52,590
|
|
State with the least number-North Dakota (TY 2006)
|
333
|
| Number of individual refunds (TY 2006) (millions) [3] |
[P] 107.0
|
| Individual refund amount (TY 2006) (billions of $) [3] |
[P] $250.9
|
|
Average individual refund amount
|
[P] $2,345
|
|
Earned Income Tax Credit (TY 2006) [3]:
|
|
Number of returns with credit (millions)
|
[P] 23.0
|
| Amount claimed (billions of $) |
[P] $44.4
|
|
Nonprofit Organizations (TY 2004) [3,6]
|
| Number of returns (Forms 990, 990EZ & 990-PF filers) |
353,096
|
| Assets controlled by nonprofits (billions of $) |
$2,569
|
|
Taxpayer Assistance (FY 2007) [1]
|
| Number assisted by writing, calling, or by walk-in |
63,350,978
|
Sources and footnotes:
[P] Preliminary data.
[TY] Tax Year.
[1] Source: IRS Data Book.
[2] Excludes S Corporations
[3] SOI data.
[4] The calculations include returns for dependents, which greatly affect the AGI upper limit for the bottom 10-percent class. Returns with negative AGI were excluded from these calculations.
[5] Source: IRS Filing Season Statistics.
[6] Organizations exempt under Section 501(c)(3) of the Internal Revenue Code.
Revised: June 4, 2008
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