I am just sharing some client service data that the IRS published today. Note that this is about 2012 filers, and is the most current report ( ie. 2013 and 2014 not yet available).
If my math is correct, in 2011 approximately 4.464+ million individual returns reported income of $200K or more. Since I do not consider $200K annual income as being rich, can I view this as a growth of upper middle class (and not just inflation)? Obviously everyone should draw their own conclusions, but I am taking the IRS info at face, simple value.
If my math is correct, in 2011 approximately 4.464+ million individual returns reported income of $200K or more. Since I do not consider $200K annual income as being rich, can I view this as a growth of upper middle class (and not just inflation)? Obviously everyone should draw their own conclusions, but I am taking the IRS info at face, simple value.
- High-Income Tax Returns for 2012. For 2012, there were more than 5 million individual income tax returns with an income of $200,000 or more, accounting for almost 4 percent of all returns for the year. The total number of returns with incomes of $200,000 or more increased by almost 12 percent compared to the total number of returns at that income level for 2011.
