Summer 2014 Statistics of Income Bulletin Now Available
WASHINGTON — The Internal Revenue Service today announced that the summer 2014 issue of the Statistics of Income Bulletin is available at IRS.gov. The Statistics of Income (SOI) Division produces the online Bulletin on a quarterly basis. Articles 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:
Foreign-Controlled Domestic Corporations, 2011. Foreign-controlled domestic corporations (76,793) accounted for a small share (1.3 percent) of all U.S. corporation income tax returns filed for tax year 2011. Collectively, these corporations produced 16.2 percent ($4.6 trillion) of the total receipts reported by all U.S. corporation income tax returns for the year; however, a small portion of these corporations accounted for most of this amount. FCDCs accounted for 14.4 percent ($11.7 trillion) of the total assets reported by U.S. corporations for 2011.
Municipal Bonds, 2011. The municipal bond market was still dominated by the more than 21,000 tax-exempt governmental bonds issued in 2011, raising $297.3 billion in proceeds for public projects, such as schools, transportation infrastructure, and utilities. Tax-exempt bond proceeds totaled nearly $384.3 billion, accounting for almost all (98.4 percent) municipal bond proceeds for the year.
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, RAS:S, Internal Revenue Service, 1111 Constitution Avenue NW, (K-Room 4112), Washington, DC 20224.
For assistance with disclosing your undeclared foreign bank accounts (offshore voluntary disclosure program, OVDP), report of foreign bank & financial accounts (FBAR), foreign account tax compliance act (FATCA), tax preparation, tax planning, tax audit IRS representation, and the US treasury office of foreign assets control (OFAC), contact Zaher Fallahi, Los Angeles Tax Attorney, Los Angeles OFAC Attorney, Los Angeles Tax CPA, Los Angeles Dental CPA, at (310) 719-1040 and Orange County Tax Attorney, Orange County OFAC Attorney, Orange County Tax CPA, Orange County Dental CPA, at (714) 546-4272 (Orange County) or e-mail: [email protected]