Bethany Well

In honor of Tax Day, I thought I would share with you guys some fascinating statistics regarding Taxes in America:

• $2,518,680,230,000 was collected in US taxes in fiscal 2006, the most recent year with full data available.
  • That’s more than $2.5 Trillion!
  • Nearly 50% came from individual income taxes.
• 140,188,000 federal income-tax returns were filed last year.
  • 80 million were filed electronically
• On Tax Day, the USPS hotline gets about 500,000 calls
  • 3.5 times the normal volume.
• 13,000 tax filers were randomly selected for Audits in 2007.
• The government estimates that each year, the IRS fails to collect about $345,000,000,000.
  • That’s $345 billion!
• The wealthiest 1% of Americans earn 21% of total national income
  • but pay 39% of taxes.
• The average tax refund in 2007 was $2,255.
  • 2.5% more than in 2006.
• About 10% of Americans wait until the Last Day of tax season to file or request an extension

Written by: RjL on April 15, 2008.