Washington (June 27, 2003) -- During the period from 1992 to 2000, the cut-off for the 400 individual income tax returns reporting the highest adjusted gross income grew from $24.4 million to $86.8 million, according to the just-released Spring 2003 issue of the Statistics of Income Bulletin. Net capital gains consistently represented the largest component of income for the 400 highest-income taxpayers.
In addition, the Bulletin reveals that about 2.8 million individual income tax returns reporting income of $200,000 or more for 2000 were filed. These returns represent slightly more than 2 percent of all returns for 2000. Between 1999 and 2000, while the total number of tax returns increased 1.8 percent, the number of high AGI returns increased 14.1 percent. Of these returns, 2,328 showed no U.S. income tax liability.
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