Tuesday, November 25, 2008

IRS Issues Fall 2008 Statistics Of Income Bulletin

IRS Issues Fall 2008 Statistics Of Income Bulletin: "#
Information returns filed by tax-exempt organizations: Nonprofit charitable organizations exempt from income tax filed more than 286,000 information returns for tax year 2005, an increase of 4 percent from tax year 2004. These organizations held more than $2.2 trillion in assets, an increase of 9 percent from the previous tax year. Information returns for tax year 2005 were filed with the IRS in calendar years 2006 and 2007.
U.S. personal wealth in 2004: In 2004, an estimated 2.7 million adults with gross assets of $1.5 million or more owned nearly $11.1 trillion in assets. With a combined net worth of more than $10.2 trillion, where net worth is defined as gross asset value less debts and mortgages, these top wealth holders made up only about 1.2 percent of the total U.S. adult population, although they held 20.3 percent of the total U.S. net worth in 2004."

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