IR-2012-71, Sept. 24, 2012 WASHINGTON — The Internal Revenue Service today announced availability of the summer 2012 issue of the Statistics of Income Bulletin, which features sole proprietorship data for tax year 2010. Nearly 23 million individual income tax returns reported nonfarm sole proprietorship activity for 2010. Profits reported on these returns were $267.7 billion. The Statistics of Income (SOI) Division produces the SOI Bulletin on a quarterly basis. Articles included in the publication provide the most recent data available from various tax and information returns filed by U.S. taxpayers. This issue of the SOI Bulletin also includes articles on the following: Partnership and sole proprietorship data, by region and state. For tax years 2007-2009, partnership returns filed increased 3.1 percent, from 3,183,882 to 3,281,985. Partnership gross receipts (less returns and allowances) for the U.S. decreased 5.7% percent over the same period. The total number of sole proprietorship returns filed for the U.S. fell 1.9 percent, from 24,643,537 in 2007 to 24,179,615 in 2009. Nationally, gross receipts reported on sole proprietorship returns decreased over the period 2007-2009. Foreign-controlled domestic corporations. For tax year 2009, there were 66,197 foreign-controlled domestic corporations that reported combined profits (i.e., net income less deficit) of $36.4 billion. Corporations claiming a foreign tax credit. For tax year 2008, 7,242 corporations claimed a total foreign tax credit of over $100 billion against their U.S. income tax liability. The Statistics of Income Bulletin is available for download at IRS.gov/taxstats. Printed copies of the Statistics of Income Bulletin 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), single issues cost $44 ($61.60 foreign). For more information about these data, write to the Director, Statistics of Income (SOI) Division, RAS:S, Internal Revenue Service, P.O. Box 2608, Washington, DC 20013-2608. Related Items: SOI Bulletin: Summer 2012 Historical Tables and Appendix Tax Statistics
