IRS Releases Stats

Those of you who are curious about how individuals and businesses are doing financially, according to the IRS, might find it interesting to view the recently-released summer 2013 issue of the Statistics of Income Bulletin.  IRS produces this bulletin on a quarterly basis – articles included within provide recent data available from various tax and information returns filed by U.S. taxpayers.  This most recent bulletin describes, among other things:

  • Average individual W-2 earnings rose slightly from $40,532 in 2008 to $40,892 in 2010.  And something like 65 million taxpayers with W-2 income participated in an employer-sponsored retirement savings plan in 2010, making $209.2 billion in direct contributions for the year.
  • Approximately 23.4 million individual income tax returns reported nonfarm sole proprietorship activity for tax year 2011.  Profits rose to $282.6 billion for the year, a 5.6% increase from 2010.