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IRS reports uptick in gross incomes, AMT filings and more

Newly released data from the IRS reveals an increase in adjusted gross incomes, the number of taxpayers paying alternative minimum tax (AMT) and more. The data, posted in the Spring 2014 Statistics of Income Bulletin, comes from 2011, the most recent year for which statistics are available, the IRS reported. Individuals Approximately 145 million individual income tax returns were filed in 2011. Overall, adjusted gross income for all taxable returns was $7.7 trillion, reflecting an increase of approximately six percent from 2010. The IRS reported that the top one percent of returns had an adjusted gross incomes of $388,900 or […]

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