Posts Tagged "AGI"

Some tax facts…

Posted on May 4, 2012

* The Obama’s 2011 tax return reported adjusted gross income of $789,674. Their tax liability was $162,074, giving them an effective tax rate of 20.5%. * The average tax refund on returns filed for 2011 was $2,983. * For this tax filing season, the IRS had 5,000 fewer employees than it had a year ago. * In 1995, 114,000 IRS employees processed 205 million tax returns. This year, 91,000 employees will process 236 million returns. * The IRS must update its computers with each tax law change. Between 2000 and 2010, Congress made 4,428 changes to the tax...

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