IRS Releases Tax Statistics For 2006

The U.S. Internal Revenue Service recently released statistics for the 2006 tax year, based on 138.4 million individual income tax returns.

Here are some of the findings:

Of those returns, 93 million, or 67 percent were taxable, which means that the tax payer reported income greater than zero.
More tax returns in 2006 were taxable than during 2005. (2.4 percent more)
Total adjusted gross income was more than $7.4 trillion.
Total income tax on these returns was approximately $1 trillion, up 9.5 percent from 2005.
The average tax rate for the returns was 13.8 percent, up 0.2 percent since 2005.
The top 1 percent of tax payers earned at least $388,806 for 2006.
The top 5 percent of tax payers earned at least $153,542 and paid 60.1 percent of total income tax.