2014 IRS 1040 Tax Return Filing Statistics through July 30

2014 IRS 1040 Tax Return Filing Statistics through July 30 The IRS has just released the latest statistics for 2014 individual tax return filing season through July 30, 2015. With over 140 million tax returns filed, the threshold for the 1% has gone even higher. 

3,613 tax returns were filed with income of $10 million or more. This groups adjusted gross income totaled $84,083,462,000 with an average of 40.1% of their income taxed as capital gains. This is compared to just 3.3% of income taxed at capital gains rate for the entire 140 million population. The effective tax rate for this top bracket after deductions and credits was 27%.

The higher income levels included the following numbers:

$200,000 under $250,000 = 1,907,917   

$250,000 under $500,000 = 2,269,845   

$1,000,000 under $1,500,000 = 107,049

$1,500,000 under $2,000,000 = 39,592  

$2,000,000 under $5,000,000 = 48,391  

$5,000,000 under $10,000,000 = 8,666  

$10,000,000 or more = 3,613 

For more statistics from prior years, visit the IRS.gov website.

 

 

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