2006-06-29 05:53:46 · 5 answers · asked by Burchan 1 in Business & Finance ➔ Taxes ➔ United States
It depends on the report you're referring to. I've seen reports of both income and net worth, although I don't recall whether that was a report from the IRS or not.
I do know that the IRS develops statistical data that is derived from estate tax returns - that may be what you are referring to. You can see more by following the link below.
2006-06-29 08:17:35 · answer #1 · answered by just_the_facts_ma'am 6 · 1⤊ 0⤋
The IRS has no direct information on the number of millionaires in the United States--that is a measure of your net worth, which are not reported on your tax return. I haven't seen statistics on millionaires from the IRS, just statistics on incomes, grouped according to income level, not asset level.
2006-06-29 21:59:37 · answer #2 · answered by NotEasilyFooled 5 · 0⤊ 0⤋
When referring to any category, financially, about a person that is always decided by all property owned by the person or the equity held in property plus any actual cash worth and value of stocks etc held by the person. Naturally there are a few persons who have suddenly in one year made over one million, but the fact remains that net worth is not decided by annual income; it is what one actually has after all debts are deducted.
2006-06-29 13:20:52 · answer #3 · answered by antonius 7 · 0⤊ 0⤋
Annual income.
2006-07-06 10:05:23 · answer #4 · answered by lade40free 2 · 0⤊ 0⤋
IRS deals with income.
net worth is probably important, but i believe they review the income.
2006-06-29 12:57:19 · answer #5 · answered by neonatheart 4 · 0⤊ 0⤋