Statistics of Income (SOI) Bulletin - Summer 2013 (entire publication in PDF)
Wage Income and Elective Retirement Contributions from Form W-2, 2008–2010
By Kevin Pierce and Jon Gober
This article presents data from Form W-2 for Tax Years 2008 through 2010. It includes data on wage income, participation in employer-sponsored retirement plans, and retirement contributions.
Excel Tables: Individual Information Return Form W-2 Statistics
Related Link: Individual Information Return Form W-2 Statistics
Sole Proprietorship Returns, 2011
By Adrian Dungan
For Tax Year 2011, there were approximately 23.4 million individual income tax returns that reported nonfarm sole proprietorship activity, a 1.8-percent increase from 2010. Profits reported on these returns rose to $282.6 billion in 2011, a 5.6-percent increase over 2010.
Related Link: Nonfarm Sole Proprietorship Statistics
Foreign Recipients of U.S. Income, 2010
By Scott Luttrell
During Calendar Year 2010, foreign persons received $557.8 billion in U.S.-source income, as reported on Form 1042-S. This amount represents a 2.1-percent increase over the amount paid to foreign recipients in 2009. Some $499.8 billion (89.6 percent) of this income was exempt from withholding taxes, up 1.3 percent from the previous year.
Related Link: Foreign Recipients of U.S. Income
Foreign-Controlled Domestic Corporations, 2010
By James R. Hobbs
Foreign-controlled domestic corporations (FCDCs) accounted for only 1.3 percent of all U.S. corporation income tax returns fi led for Tax Year 2010. However, FCDCs generated $4.1 trillion of total receipts with $11.2 trillion of total assets, accounting for 15.5 percent of the receipts and 14.1 percent of the assets reported on all U.S. corporation income tax returns during the year.
Related Link: Foreign-Controlled Domestic Corporations
Corporate Foreign Tax Credit, 2009
By Nuria E. McGrath
For Tax Year 2009, corporations reported over $93 billion in foreign tax credits, a decrease of 6.5 percent over 2008 (in constant 2009 dollars). Foreign-source taxable income from corporations claiming the foreign tax credit grew 1.2 percent to $417 billion, while the current foreign taxes paid decreased 13.5 percent to $104 billion. Firms in the manufacturing industry accounted for more than two-thirds of the foreign-source taxable income. Together, income earned in the Netherlands, United Kingdom, Luxembourg, Canada, and Bermuda represented 40 percent of the total foreign-source taxable income for 2009.
Related Link: Corporate Foreign Tax Credit
Unrelated Business Income Tax Returns, 2009
By Jael Jackson
For Tax Year 2009, over 42,000 tax-exempt organizations filed Form 990-T to report unrelated business income, nearly 1 percent more than in 2008. The $9.7 billion in gross unrelated business income reported by tax-exempt organizations represented a 6-percent decrease from the previous year. Total unrelated business income tax liability decreased even more, 22 percent, to $266.4 million.
Federal empowerment zones (EZ) and renewal communities (RC) are economically distressed geographic areas eligible for temporary tax incentives and other Federal assistance to encourage economic development within those areas. This article examines in detail the use of one such incentive, the empowerment zone and renewal community (EZ/RC) employment credit for Tax Years 1998 through 2010.
In the Next Issue
Articles on the following topics are tentatively planned for inclusion in the Fall 2013 issue of the Statistics of Income Bulletin, scheduled to be published in November 2013:
- Individual Income Tax Returns, Tax Year 2011;
- Partnership Returns for 2011; and
- Accumulation and Distribution of Individual Retirement Arrangements, 2010.