Statistics of Income (SOI) Bulletin - Spring 2014 (entire publication in PDF)
Individual Income Tax Rates and Shares, 2011
By Adrian Dungan and Michael Parisi
Taxpayers filed 145.4 million individual income tax returns for Tax Year 2011. Taxable returns (i.e., returns with a total income tax greater than $0) accounted for the majority (91.7 million) of all individual tax returns filed for the year. These returns represent the third lowest percentage (63.1 percent) of taxable returns in more than 25 years, with 2009 having been the lowest at 58.3 percent. Adjusted gross income (AGI) on taxable returns increased 6.2 percent to $7.69 trillion for 2011, while total income tax increased 9.9 percent to $1.05 trillion. The average tax rate for taxable returns increased 0.5 percentage points to 13.6 percent.
Related Link: Individual Income Tax Rates and Tax Shares
High-Income Tax Returns for 2011
By Justin Bryan
For 2011, there were 4.8 million individual income tax returns with an expanded income of $200,000 or more, accounting for 3.3 percent of all returns for the year. Of these, 15,000 returns had no worldwide income tax liability. This was a 6.7-percent decline in the number of returns with no worldwide income tax liability from 2010, and the second decrease in a row since reaching an all-time high of 19,551 returns in 2009.
Related Link: High Income Tax Returns
Individual Noncash Contributions, 2011
By Pearson Liddell and Janette Wilson
For Tax Year 2011, individual taxpayers who itemized deductions (22.5 million) reported $43.6 billion in noncash charitable contributions. About a third (7.5 million) of these taxpayers reported $38.7 billion in deductions for charitable contributions on Form 8283, Noncash Charitable Contributions. The number of taxpayers filing Form 8283 increased 3.3 percent, from 7.3 million for Tax Year 2010 to 7.5 million for Tax Year 2011. Donation amounts also increased, rising 10.9 percent, from $34.9 billion for 2010. For both tax years, corporate stock donations represented the largest share of total donations claimed by taxpayers, increasing 19.5 percent, from $13.4 billion to $16.0 billion.
Related Link: Special Studies on Individual Tax Return Data
Individual Foreign-Earned Income and Foreign Tax Credit, 2011
By Scott Hollenbeck and Maureen Kahr
For 2011, the total amount of foreign-earned income reported on Form 2555, Foreign Earned Income, by nearly 450,000 U.S. taxpayers was $54.2 billion. This represented growth in real terms of 32.3 percent since 2006, the last year a study was prepared on these data. Asian-based U.S. taxpayers reported the largest amount of total foreign-earned income ($24.9 billion) from any continent, a 52.2-percent increase in real growth from the $16.4 billion reported for 2006. In addition, U.S. taxpayers claimed more than $28.3 billion as a foreign-earned income exclusion on their tax returns for the year. Between 2006 and 2011, the inflation-adjusted amount of the foreign-earned income exclusion increased 38.4 percent, while the housing exclusion increased 5.8 percent, rising from just under $1.5 billion to nearly $1.6 billion for 2011.
Related Link: Individual FEI / FTC Statistics
In the Next Issue
Articles on the following topics are tentatively planned for inclusion in the Summer 2013 issue of the Statistics of Income Bulletin, scheduled to be published in September 2014:
- Foreign-controlled domestic corporations, 2011
- Corporate foreign tax credit, 2010