Home » Kentucky » HARLAN County » CUMBERLAND, KY » ZIP Code 40823 » Tax Stats

40823 Income Tax Overview

Total Number of Tax Returns for ZIP Code 40823 [1]	1,261
Total Number of Joint Tax Returns for ZIP Code 40823	581
Total Number of Dependents for ZIP Code 40823	554
Total Adjusted Gross Income for ZIP Code 40823	43,812,088
Average Income per Person for ZIP Code 40823	$10,355

The following tables break down the Income Tax Statistics into different Gross Income levels.

Adjusted Gross Income: Under $10,000 [1]

Number of returns [1]	320
Number of joint returns	61
Number of returns with paid preparer's signature	235
Number of exemptions	531
Number of dependents	121
Adjust gross income (AGI) [2]	$1,486,315
Salaries and wages	$1,227,154
Taxable interest	$14,799
Ordinary dividends	$14,426
Business or professional net income (less loss)	$24,745
Net capital gain (less loss)	($15,746)
Taxable individual retirement arrangements distributions	$35,879
Taxable pensions and annuities	$170,047
Unemployment compensation [3]	$76,496
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$0
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$0
Mortgage interest paid	$0
Contributions	$0
Taxable income	$27,260
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$238,893
Excess earned income credit (refundable) [7]	$212,966
Alternative minimum tax	$0
Income tax [8]	$2,727
Total tax liability [9]	$31,205
Tax due at time of filing [10]	$0
Overpayments refunded [11]	($326,383)

Adjusted Gross Income: $10,000 under $25,000

Number of returns [1]	362
Number of joint returns	134
Number of returns with paid preparer's signature	271
Number of exemptions	750
Number of dependents	155
Adjust gross income (AGI) [2]	$5,882,067
Salaries and wages	$4,548,679
Taxable interest	$197,040
Ordinary dividends	$6,765
Business or professional net income (less loss)	$409,450
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$592,469
Unemployment compensation [3]	$96,676
Taxable Social Security benefits	$11,229
Self-employment retirement plans	$0
Total itemized deductions [4]	$0
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$0
Mortgage interest paid	$0
Contributions	$0
Taxable income	$1,117,827
Total tax credits [5]	$14,990
Residential energy tax credit	$0
Child tax credit	$11,569
Child and dependent care credit	$0
Earned income credit [6]	$509,918
Excess earned income credit (refundable) [7]	$465,913
Alternative minimum tax	$0
Income tax [8]	$103,776
Total tax liability [9]	$163,053
Tax due at time of filing [10]	$23,941
Overpayments refunded [11]	($882,761)

Adjusted Gross Income: $25,000 under $50,000

Number of returns [1]	262
Number of joint returns	133
Number of returns with paid preparer's signature	205
Number of exemptions	611
Number of dependents	113
Adjust gross income (AGI) [2]	$9,483,730
Salaries and wages	$7,708,900
Taxable interest	$249,820
Ordinary dividends	$29,727
Business or professional net income (less loss)	$118,343
Net capital gain (less loss)	($1,859)
Taxable individual retirement arrangements distributions	$82,674
Taxable pensions and annuities	$903,964
Unemployment compensation [3]	$67,461
Taxable Social Security benefits	$260,001
Self-employment retirement plans	$0
Total itemized deductions [4]	$596,355
State and local income taxes	$56,493
State and local general sales tax	$0
Real estate taxes	$22,779
Taxes paid	$85,405
Mortgage interest paid	$95,374
Contributions	$73,107
Taxable income	$4,840,295
Total tax credits [5]	$95,335
Residential energy tax credit	$0
Child tax credit	$86,127
Child and dependent care credit	$0
Earned income credit [6]	$84,782
Excess earned income credit (refundable) [7]	$72,315
Alternative minimum tax	$0
Income tax [8]	$500,689
Total tax liability [9]	$539,784
Tax due at time of filing [10]	$27,782
Overpayments refunded [11]	($608,615)

Adjusted Gross Income: $50,000 under $75,000

Number of returns [1]	174
Number of joint returns	126
Number of returns with paid preparer's signature	131
Number of exemptions	457
Number of dependents	92
Adjust gross income (AGI) [2]	$10,870,916
Salaries and wages	$9,159,401
Taxable interest	$162,025
Ordinary dividends	$18,235
Business or professional net income (less loss)	$82,985
Net capital gain (less loss)	($104)
Taxable individual retirement arrangements distributions	$185,695
Taxable pensions and annuities	$799,246
Unemployment compensation [3]	$30,480
Taxable Social Security benefits	$379,573
Self-employment retirement plans	$0
Total itemized deductions [4]	$344,245
State and local income taxes	$67,386
State and local general sales tax	$0
Real estate taxes	$13,634
Taxes paid	$93,956
Mortgage interest paid	$68,757
Contributions	$44,210
Taxable income	$7,423,798
Total tax credits [5]	$127,497
Residential energy tax credit	$0
Child tax credit	$110,080
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$924,553
Total tax liability [9]	$947,315
Tax due at time of filing [10]	$53,376
Overpayments refunded [11]	($433,198)

Adjusted Gross Income: $75,000 under $100,000

Number of returns [1]	88
Number of joint returns	78
Number of returns with paid preparer's signature	68
Number of exemptions	256
Number of dependents	48
Adjust gross income (AGI) [2]	$7,705,752
Salaries and wages	$6,445,382
Taxable interest	$39,901
Ordinary dividends	$2,274
Business or professional net income (less loss)	$32,906
Net capital gain (less loss)	$45,234
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$559,132
Unemployment compensation [3]	$0
Taxable Social Security benefits	$301,679
Self-employment retirement plans	$0
Total itemized deductions [4]	$259,379
State and local income taxes	$84,839
State and local general sales tax	$0
Real estate taxes	$14,526
Taxes paid	$110,364
Mortgage interest paid	$83,083
Contributions	$54,391
Taxable income	$5,787,563
Total tax credits [5]	$86,356
Residential energy tax credit	$0
Child tax credit	$72,050
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$769,696
Total tax liability [9]	$808,382
Tax due at time of filing [10]	$30,816
Overpayments refunded [11]	($240,445)

Adjusted Gross Income: $100,000 under $200,000

Number of returns [1]	55
Number of joint returns	49
Number of returns with paid preparer's signature	42
Number of exemptions	153
Number of dependents	25
Adjust gross income (AGI) [2]	$8,383,308
Salaries and wages	$4,952,066
Taxable interest	$500,661
Ordinary dividends	$20,294
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$665,306
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$858,242
State and local income taxes	$350,458
State and local general sales tax	$0
Real estate taxes	$47,659
Taxes paid	$417,813
Mortgage interest paid	$127,154
Contributions	$194,225
Taxable income	$6,227,732
Total tax credits [5]	$25,358
Residential energy tax credit	$0
Child tax credit	$23,500
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,207,743
Total tax liability [9]	$1,258,306
Tax due at time of filing [10]	$72,375
Overpayments refunded [11]	($160,224)

[1] Includes returns with adjusted gross deficit.

[2] Less deficit.

[3] Includes the Alaskan permanent fund, reported by residents of Alaska on Forms 1040A and 1040EZ's. This fund only applies to statistics in the U.S. totals, and the state of Alaska.

[4] "Itemized deductions" include any amounts reported by the taxpayer, even if they could not be used in computing "taxable income," the base on which the regular income tax was computed. Thus, total itemized deductions include amounts that did not have to be reported by taxpayers with no "adjusted gross income." (Adjusted gross income is the total from which these deductions would normally be subtracted.) In addition, if standard and itemized deductions were both reported on a tax return, the form of deduction actually used in computing income tax was the one used for the statistics. Therefore, if the standard deduction was the form of deduction used, the total reported for itemized deductions was excluded from the statistics. However, the component deductions were not similarly excluded. As a result, the number of returns and related amounts for the component deductions are slightly overstated in relation to the grand total shown for itemized deductions. These components are also overstated in relation to the total because there was a statutory limitation on the total of itemized deductions that could be claimed by certain high-income taxpayers. This limitation did not affect the component deductions, the sum of which therefore exceeded the total used in computing income tax.

[5] "Total tax credits" excludes the "earned income credit" which is shown separately.

[6] "Earned income credit" includes both the refundable and non-refundable portions. The non-refundable portion could reduce income tax and certain related taxes to zero. The earned income credit amounts in excess of total tax liability, or amounts when there was no tax liability at all, were refundable. See footnote 7 below for explanation of the refundable portion of the earned income credit.

[7] The refundable portion of the "earned income credit" equals "total income tax" minus the "earned income credit". If the result is negative, this amount is considered the refundable portion.

[8] "Income tax" is in general, the same as "income tax after credits" which was redefined in Tax Year 2000 to include the "alternative minimum tax (AMT)". Zip Code table "Income tax" differs from "total income tax" (in other tables) in that the Zip Code table "Income tax" is after the subtraction of all tax credits except the earned income credit. See footnote 6 and 7 above, for an explanation of the treatment of the earned income credit. "Income tax" reflects the amount reported on the tax return and is, therefore, before any examination or enforcement activities by the Internal Revenue Service. It represents the tax filer reported income tax liability that was payable to the U.S. Department of the Treasury.

[9] For the Zip Code tables, "Total tax liability" differs from "Income tax," in that "Total tax liability" includes the taxes from recapture of certain prior-year credits, tax applicable to individual retirement arrangements (IRA's), Social Security taxes on self-employment income and on certain tip income, advanced earned income payments, household employment taxes, and certain "other taxes" listed in the Form 1040 instructions.

[10] Reflects payments to or withholdings made to "Total tax liability" (footnote 9). The amount the tax filer owes when the income tax return is filed.

[11] The amount of overpayments the tax filer requested to have refunded.