Author: John Leslie
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Article Link: http://www.mineeds.com/Lakeside/Leslie-and-Associates-Inc/Articles/IRS-discloses-charitible-giving-by-individuals
Tags: contributions , irs tax help , tax help , tax forms , irs help
The Internal Revenue Service today announced availability of the summer 2009 issue of the Statistics of Income Bulletin, which features sole proprietorship data for tax year 2007.
About 23.1 million individual income tax returns reported nonfarm sole proprietorship activity, a 4.7 percent increase since tax year 2006. Reported profits for these sole proprietorships were $280.6 billion in 2007.
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 of the SOI Bulletin also includes articles on the following subjects:
• Individual Noncash Contributions:For tax year 2006, 24.7 million individual income taxpayers itemized $52.6 billion in deductions for noncash charitable contributions.Of these taxpayers, 6.2 million reported $46.8 billion in deductions for charitable contributions in excess of $500, as shown on Form 8283, Noncash Charitable Contributions. **End Summary** Topics: contributionsirs tax helptax helptax forms
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