Tax Facts

U.S. Tax Fact (2010)

Number

Individual returns filed

143 million

Taxable income

$5.5 trillion

Total income tax collected

$952 billion

E-filed returns (2011)

89%

Taxpayer used a preparer

57%

Those who take standard deduction

66%

Average standard deduction

$7,880

Average total itemized deductions

$26,100

Largest deductions taken:

Taxes paid (37% of total deductions)

Interest paid (34% of total deductions)

Charitable (14% of total deductions)

Medical (7% of total deductions)

Number of returns reporting …

Taxable interest (55 million)

Ordinary dividends (28 million)

Taxable pensions or annuities (27 million)

Business or professional net income (23 million)

Net capital gains (21 million)

Taxable Social Security benefits (16 million)

Unemployment compensation (15 million)

Taxable IRA distributions (13 million)

Rental or royalty income (11 million)

Partnership or S corporation net income (8 million)

Alternative minimum tax (4 million)

Farm net income (1.9 million)

Gambling earnings (1.8 million)

Estate and trust net income (640,000)

U.S. Tax Fact (2010)

Number

Returns with AGIs > $1 million

282,311

State with highest AGI number

California (42,090 returns)

State with lowest AGI number

Vermont (295 returns)

Median AGI

$34,315

AGI needed to be in top 1%

$370,000

AGI needed to be in top 10%

$117,000

Number of individual refunds

111 million

Total individual refund payments

$327 billion

Average individual refund

$3,000

Millionaires paying $0 income taxes

7,000 (for tax year 2011)

AGIs > $10 million

11,260 returns

Average tax rate as % of AGI

11.8%

Average tax rates as % of AGI:

20.7% average tax rate (if AGI over $10 million)

24.5% (if AGI is $1 million to $10 million)

24.1% (if AGI is $500,000 to $1 million)

19.6% (if AGI is $200,000 to $500,000)

12.0% (if AGI is $100,000 to $200,000)

7.7% (if AGI is $50,000 to $100,000)

4.8% (if AGI is $30,000 to $50,000)

2.5% (if AGI is $20,000 to $30,000)

0.9% (if AGI is $10,000 to $20,000)

0.4% average tax rate (if AGI is $1 to $10,000)

Number of words in the tax code

4 million (70,000 pages)

Tax code changes 2001–2010

4,680

Height of printed explanations

1 foot