Winter 2019 Statistics of Income Bulletin
WASHINGTON — The Internal Revenue Service announced today that the Winter 2019 Statistics of Income Bulletin is now available on IRS.gov. The Statistics of Income (SOI) Division produces the online Bulletin quarterly, providing the most recent data available from various tax and information returns filed by U.S. taxpayers. This issue includes articles on the following topics:
- Individual Income Tax Shares, Tax Year 2016: For Tax Year 2016, taxpayers filed 140.9 million individual income tax returns, excluding returns filed by dependents. The average adjusted gross income (AGI) reported on these returns was $72,090, in comparison with $71,829 for the previous year. Total AGI increased slightly by 0.1 percent to $10.16 trillion, while total income tax decreased 0.8 percent to $1.44 trillion. For 2016, the AGI threshold for the top 50 percent of all individual income tax returns was $40,078 for the year. These taxpayers accounted for 88.4 percent of total AGI, and paid 97 percent of total income tax. The top 0.001 percent of tax returns had an AGI of $53,052,900 or more. These taxpayers accounted for 2 percent of total AGI, and paid 3.2 percent of total income tax. The average tax rate of 14.2 percent for all returns in 2016 was the second highest of this 10-year study, Tax Years 2007–2016.
- Personal Wealth, 2013: For 2013, the threshold was $5.25 million or more in gross estate. In 2013, there were an estimated 584 thousand adults in the U.S., representing the top .25 percent of all adults in the population. Together, these top wealth holders owned nearly $7.3 trillion in assets and held $432 billion in debt, making their combined net worth $6.9 trillion. The Federal Reserve Board’s Survey of Consumer Finance estimated the net worth of all U.S. adults to be $65.5 trillion in 2013. By this measure, 10.5 percent of the Nation’s net worth was accounted for by these top wealth holders.
- Individual Income Tax Returns, Preliminary Data, Tax Year 2017: For Tax Year 2017, taxpayers filed 153.1 million U.S. individual income tax returns, an increase of 1.8 percent from the 150.3 million returns filed for Tax Year 2016. For 2017, adjusted gross income (AGI) increased 7.1 percent to $10.9 trillion. This large increase in AGI was reflected in increases in most components of income, including increases in salaries and wages (5.0 percent), taxable pensions and annuities (5.5 percent), net capital gains (33.5 percent), partnership and S corporation net income less loss (4.8 percent), and ordinary dividends (13.4 percent).