by Michael Lodge
Every year the IRS puts out statistics on reporting to the IRS by taxpayers nationwide. Granted some of the information is dated but give you a good historical view of the IRS reporting of taxes.
The Internal Revenue Service today reminded taxpayers and researchers that the fall 2016 issue of the Statistics of Income Bulletin is 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:
- Sole Proprietorship Returns, Tax Year 2014: For Tax Year 2014, taxpayers reported nonfarm sole proprietorship activity on approximately 24.6 million individual income tax returns, a 2.3-percent increase from 2013. Profits rose to $317.1 billion for 2014, up almost 5 percent from the previous year.
- Partnership Returns, Tax Year 2014: The number of partnerships and partners in the United States continued to increase for Tax Year 2014. Partnerships filed more than 3.6 million returns for the year, representing more than 27 million partners.
- Transactions Between Large Foreign-Owned Domestic Corporations and Foreign Related Persons, Tax Year 2010: The total value of non-loan transactions between large foreign-owned domestic corporations and related foreign parties amounted to $1.208 trillion for Tax Year 2010, a 1.8-percent increase from the 2008 study’s $1.187 trillion.
SOI Bulletin articles are available for download at IRS.gov/taxstats. For more information about these data, write to the Director, Statistics of Income (SOI) Division, RAAS:S, Internal Revenue Service, 1111 Constitution Avenue NW, (K-Room 4112), Washington, DC 20224.