Summary of Latest Federal Individual Income Tax Data
The Internal Revenue Service has released new data on individual income taxes, reporting on calendar year 2009. The year saw no economic improvement from 2008 as unemployment continued to increase. The amount of individual income tax paid steeply declined by $166 billion, twice the decline from 2007 to 2008. Nationally, average effective income tax rates were at their lowest levels since the IRS began tracking them in 1986. The average tax rate for returns with a positive liability went from 12.24 percent in 2008 to 11.06 percent in 2009.