David Saks: March 2014

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Winter 2014 Statistics of Income Bulletin Now Available

Winter 2014 Statistics of Income Bulletin Now Available

The Internal Revenue Service today announced the availability of the winter 2014 issue of the Statistics of Income Bulletin, which features preliminary data for individual income tax returns filed for Tax Year 2012.

The Statistics of Income (SOI) Division produces the SOI Bulletin on a quarterly basis. Articles included in the publication provide the most recent data available from various tax and information returns filed by U.S. taxpayers. This issue includes articles on the following topics:

Individual Income Tax Returns, Preliminary Data, 2012: Taxpayers filed 145 million individual income tax returns for 2012. The adjusted gross income (AGI) reported on these returns totaled $9 trillion, a 9 percent increase from the previous year. Taxable income rose almost 12 percent to more than $6 trillion, accordingly, total income tax increased 15 percent to $1.2 trillion. Although taxpayers reported $29 billion in alternative minimum tax, an increase of almost 8 percent compared to the prior year, the number of returns reporting the AMT fell one percent.

Sales of Capital Assets Panel Data Reported on Individual Tax Returns, 2004-2007:  The SOI panel study of individual taxpayer trends in taxes and income showed the following increases from 2004 through 2007.

  • Net gains and losses increased 84.7 percent, from $496.3 billion to $916.5 billion.
  • Capital gains rose 69.2 percent to $1.1 trillion during this same period.

For all 4 years of the study, taxpayers realized most combined short- and long-term net gains less losses from passthrough entities (partnerships, S corporations, and fiduciaries).

Split-Interest Trusts, Filing Year 2012:  Tax preparers filed 113,688 Forms 5227 to report the financial activities of split-interest trusts to the IRS for Filing Year 2012, a 3.4-percent decline from 2011. Split-interest trusts reported 16,500 distributions of principal ($2.5 billion)  and 15,580 distributions of income ($1,793.7 billion) for the year. Asset contributions rose to more than $5.2 billion, a 74 percent increase over the previous year. Charitable remainder trusts continued to be the most common split-interest trust, accounting for 93 percent of the returns filed.

Nonprofit Charitable Organizations, 2010: Tax exempt public charities (501(c)(3) organizations) filed almost 270,000 Forms 990 and 990-EZ and reported $2.9 trillion in assets for Tax Year 2010, an increase of 9 percent from the previous year. These organizations reported $1.6 trillion in total revenue, nearly three-quarters ($1.2 trillion) of which came from program services. They reported $1.5 trillion in expenses.

The Statistics of Income Bulletin is available for download at IRS.gov/taxstats. Printed copies of the Statistics of Income Bulletin are available from the Superintendent of Documents, U.S. Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. The annual subscription rate is $67 ($93.80 foreign), single issues cost $44 ($61.60 foreign).

For more information about these data, write to the Internal Revenue Service (RAS:S), Director, Statistics of Income, 1111 Constitution Ave., NW (K-Room 4112), Washington, DC 20224-0002.


Related Items:

 source IRS.Gov




David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 0 commentsDavid Saks • March 22 2014 08:53AM
Winter 2014 Statistics of Income Bulletin Now Available
share
Winter 2014 Statistics of Income Bulletin Now Available The Internal Revenue Service today announced the availability of the winter 2014 issue of the Statistics of Income Bulletin which features preliminary data for individual income tax… more
IRS Publication on Business Expenses - Half of All Returns Received
share
More than Half of all Income Tax Returns Have Been Received. IRS Issues Publication on Business Expenses WASHINGTON — With the tax deadline getting closer, the IRS has received more than half of all the returns it expects to receive during… more
HUD AWARDS $1. 8 BILLION TO IMPROVE, PRESERVE PUBLIC HOUSING
share
HUD NEWS U. S. Department of Housing and Urban Development – Shaun Donovan, Secretary Office of Public Affairs, Washington, DC 20410 HUD No. 14-023 … more
Another Attorney Guilty of Scheme to Defraud Banks - $7. 7 Million
share
Biloxi Attorney Pleads Guilty to Creating a Scheme to Falsify, Conceal, and Cover Up Material Facts in Defrauding Two Banks and the Bankruptcy Court U. S. Attorney’s Office March 20, 2014 Southern District… more
The National Association of Realtors and MOVE Will Sue Zillow
share
Here is a link to the complaint filed March 17, 2014 in a lawsuit against Zillow. "At Move, we take our trade secrets and intellectual property extremely seriously as a valuable asset in our competitive position in the marketplace, "… more
Connecticut Woman Admits Role in Real Estate Appraisal Fraud Scheme
share
East Hampton Woman Admits Role in Real Estate Appraisal Fraud Scheme U. S. Attorney’s Office March 19, 2014 District of Connecticut (203) 821-3700 Deirdre M… more
Former Bank Officer Sentenced - Embezzled Elderly Customers Accts
share
Former Bank Officer Sentenced for Embezzling from Elderly Customers’ Accounts U. S. Attorney’s Office March 17, 2014 Northern District of Oklahoma (918) 382-2700 … more
Man Sentenced to 21 Months Imprisonment for Bank Fraud
share
Dublin Man Sentenced to 21 Months Imprisonment for Bank Fraud U. S. Attorney’s Office March 14, 2014 Northern District of California (415) 436-7200 OAKLAND… more
Midday Matinee - George Jones (September 12, 1931 – April 26, 2013)
share
George Glenn Jones (September 12, 1931 – April 26, 2013) Here He is With the Classic Song "She Thinks I Still Care" For Your Midday Matinee more
One of My Favorite Things About Springtime
share
I'll make this simple. Nothing welcomes Springtime better than a box of Girl Scout Cookies. My pantry's full of them. I can't pass a Girl Scout Cookie kiosk without buying a box. Do. Si. Dos are my favorite. And one of my… more