FROM: INTERNAL REVENUE SERVICE
Fall 2013 Statistics of Income Bulletin Now Available
WASHINGTON — The Internal Revenue Service today announced the availability of the Fall 2013 issue of the Statistics of Income Bulletin, which features information on individual income tax returns filed for tax year 2011.
Taxpayers filed 145.4 million individual income tax returns for 2011, an increase of 1.7 percent from tax year 2010. The adjusted gross income (AGI) reported on these returns totaled $8.4 trillion, a 3.5-percent increase from 2010. Taxable income rose 4.4 percent to $5.7 trillion for 2011.
The Statistics of Income (SOI) Division produces the SOI Bulletin on a quarterly basis. Articles included in the publication provide the most recent data available from various tax and information returns filed by U.S. taxpayers. This issue of the SOI Bulletin also includes articles on the following topics:
Partnership Returns: Since 2002, the number of partnerships has increased at an average annual rate of 4.4 percent. For tax year 2011, a total of 3,285,177 partnerships filed federal tax returns, reporting $20.6 trillion in total assets and $580.9 billion in total net income or profit.
Accumulation and Distribution of Individual Retirement Arrangements: About three- quarters of all taxpayers (145.6 million) were eligible to contribute to an individual retirement account (IRA) for 2010. Of the 3.5 million taxpayers who made IRA contributions, 62 percent were age 50 or older. For 2010, the end-of-year fair market value of IRAs reported by approximately 54.4 million taxpayers was roughly $5 trillion.
