IRS Tax Stats–Prelim 2014 Info Released

Ever wonder where your tax return fits it with rest of your fellow tax filers? IRS has just released preliminary data for the 2014 1040 returns filed. A couple of quick observations…..”middle class” returns represent aprx 39% of all returns filed and aprx 37% of total tax paid in; whereas those with AGI (adjusted gross income) of $250k or more represent only 2.7% of returns filed, but their total tax paid in is over 51% of the total paid in. The charts include details on essentially all lines of the Form 1040 (salary, interest, rental, itemized deductions, etc). Check out the 2014 chart along with previous years at: