IRS says wages increased by less than 1 percent over two-year period | cleveland.com

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IRS says wages increased by less than 1 percent over two-year period | cleveland.com
tax-forms8b.jpgThe Internal Revenue Service today said new statistics show that wages increased slightly from 2008 to 2010, the latest year for which data is available.

Among the highlights:

Average W-2 income rose less than 1 percent, from $40,532 in 2008 to $40,892 in 2010.

About 66 million taxpayers with W-2 income participated in employer-sponsored retirement savings plans in 2010, making $209 billion in contributions.

Foreign individuals received $558 billion in U.S.-source income in 2010, an increase of 2.1 percent from 2009. Interest payments was the biggest source, at 47 percent, followed by dividends, at 20 percent.

The information comes from the Statistics of Income Bulletin, which is available for download at IRS.gov/taxstats. Printed copies 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).

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About parrottcpa

Parrott & Associates, Certified Public Accountants Specializing In Business & Individual Taxes, Accounting & Payroll Located in Cumming, Georgia http://parrottcpa.com/
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