IRS: Winter 2015 Statistics of Income Bulletin ReleasedBy Robert Robillard - 6 March 2015
This blogpost originally appeared on rbrt.ca.
Among other things, we learn that “U.S.-source income paid to foreign persons, as reported on Form 1042-S, totaled $568.5 billion for Calendar Year 2011, up almost 2 percent from 2010. Withholding taxes on this income fell by about 12 percent to almost $9 billion in 2011. Almost 90 percent of all U.S.-source income paid to foreign persons was exempt from withholding tax. The residual U.S.-source income subject to tax was withheld at an average rate of 15 percent.”
See all the articles of the Winter 2015 Statistics of Income Bulletin here.
The convergence of RBRT’s tax, accounting and economics expertise makes a difference. The information in this blog post is general information only. Data and information come from sources believed to be reliable but complete accuracy cannot be guaranteed. RBRT Inc. or the author are not responsible or liable for any error, omission or inaccuracy in such information. The opinions expressed in this blogpost are those of the author. Readers should seek advice and counsel from RBRT Inc. as required.