About 140 million taxpayers filed tax returns on April 15. The returns will report about $8 trillion in adjusted gross income (AGI) and taxes of about $1.1 trillion. Tax Analysts notes that nearly 90 percent of the 140 million returns will report AGI of less than $100,000.
Not all taxpayers have been paying their taxes. The FairTax organization says that if everyone paid the taxes they owe, the taxes paid per individual taxpayer could be cut by 32.1 percent. The taxpayer ... Log in to view full article.