Home » Illinois » MCLEAN County » ZIP Code 61701 » Tax Stats

61701 Income Tax Overview

Total Number of Tax Returns for ZIP Code 61701 [1]	17,473
Total Number of Joint Tax Returns for ZIP Code 61701	5,004
Total Number of Dependents for ZIP Code 61701	5,231
Total Adjusted Gross Income for ZIP Code 61701	773,977,204
Average Income per Person for ZIP Code 61701	$21,437

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]	3,239
Number of joint returns	168
Number of returns with paid preparer's signature	1,357
Number of exemptions	3,523
Number of dependents	601
Adjust gross income (AGI) [2]	$14,735,551
Salaries and wages	$14,739,279
Taxable interest	$778,749
Ordinary dividends	$555,855
Business or professional net income (less loss)	$694,031
Net capital gain (less loss)	$394,777
Taxable individual retirement arrangements distributions	$362,703
Taxable pensions and annuities	$1,136,682
Unemployment compensation [3]	$300,095
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,170,588
State and local income taxes	$107,605
State and local general sales tax	$25,386
Real estate taxes	$385,260
Taxes paid	$546,331
Mortgage interest paid	$571,109
Contributions	$42,516
Taxable income	$693,621
Total tax credits [5]	$789
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$1,450,416
Excess earned income credit (refundable) [7]	$1,313,515
Alternative minimum tax	$0
Income tax [8]	$67,961
Total tax liability [9]	$317,300
Tax due at time of filing [10]	$58,357
Overpayments refunded [11]	($2,768,097)

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

Number of returns [1]	4,679
Number of joint returns	526
Number of returns with paid preparer's signature	2,244
Number of exemptions	7,754
Number of dependents	1,505
Adjust gross income (AGI) [2]	$80,017,629
Salaries and wages	$64,825,182
Taxable interest	$1,709,833
Ordinary dividends	$761,314
Business or professional net income (less loss)	$3,091,516
Net capital gain (less loss)	($8,604)
Taxable individual retirement arrangements distributions	$1,390,769
Taxable pensions and annuities	$7,051,972
Unemployment compensation [3]	$1,294,569
Taxable Social Security benefits	$305,296
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,902,361
State and local income taxes	$129,419
State and local general sales tax	$91,632
Real estate taxes	$652,070
Taxes paid	$900,084
Mortgage interest paid	$1,219,175
Contributions	$404,270
Taxable income	$25,050,678
Total tax credits [5]	$363,915
Residential energy tax credit	$0
Child tax credit	$155,611
Child and dependent care credit	$30,826
Earned income credit [6]	$4,324,479
Excess earned income credit (refundable) [7]	$3,950,244
Alternative minimum tax	$0
Income tax [8]	$2,362,938
Total tax liability [9]	$2,953,575
Tax due at time of filing [10]	$217,695
Overpayments refunded [11]	($9,448,520)

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

Number of returns [1]	4,681
Number of joint returns	1,100
Number of returns with paid preparer's signature	2,155
Number of exemptions	8,135
Number of dependents	1,312
Adjust gross income (AGI) [2]	$168,153,293
Salaries and wages	$141,457,226
Taxable interest	$2,497,607
Ordinary dividends	$1,597,486
Business or professional net income (less loss)	$2,877,829
Net capital gain (less loss)	$24,543
Taxable individual retirement arrangements distributions	$2,245,070
Taxable pensions and annuities	$12,255,252
Unemployment compensation [3]	$1,640,184
Taxable Social Security benefits	$3,563,634
Self-employment retirement plans	$0
Total itemized deductions [4]	$14,804,340
State and local income taxes	$1,111,534
State and local general sales tax	$205,492
Real estate taxes	$2,505,176
Taxes paid	$3,899,471
Mortgage interest paid	$5,294,215
Contributions	$1,398,039
Taxable income	$99,225,440
Total tax credits [5]	$1,434,611
Residential energy tax credit	$0
Child tax credit	$941,000
Child and dependent care credit	$105,897
Earned income credit [6]	$805,133
Excess earned income credit (refundable) [7]	$670,036
Alternative minimum tax	$0
Income tax [8]	$11,323,678
Total tax liability [9]	$11,942,668
Tax due at time of filing [10]	$625,388
Overpayments refunded [11]	($8,793,179)

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

Number of returns [1]	2,368
Number of joint returns	1,240
Number of returns with paid preparer's signature	1,191
Number of exemptions	5,006
Number of dependents	800
Adjust gross income (AGI) [2]	$144,828,543
Salaries and wages	$118,122,944
Taxable interest	$2,464,872
Ordinary dividends	$1,380,220
Business or professional net income (less loss)	$2,314,148
Net capital gain (less loss)	$342,382
Taxable individual retirement arrangements distributions	$2,234,440
Taxable pensions and annuities	$12,047,449
Unemployment compensation [3]	$625,287
Taxable Social Security benefits	$4,678,585
Self-employment retirement plans	$107,402
Total itemized deductions [4]	$15,442,672
State and local income taxes	$1,670,400
State and local general sales tax	$200,753
Real estate taxes	$2,745,047
Taxes paid	$4,687,645
Mortgage interest paid	$5,563,146
Contributions	$2,174,566
Taxable income	$99,021,140
Total tax credits [5]	$1,349,998
Residential energy tax credit	$0
Child tax credit	$1,010,833
Child and dependent care credit	$85,442
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$13,183,616
Total tax liability [9]	$13,782,119
Tax due at time of filing [10]	$677,807
Overpayments refunded [11]	($4,990,654)

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

Number of returns [1]	1,222
Number of joint returns	898
Number of returns with paid preparer's signature	605
Number of exemptions	2,971
Number of dependents	502
Adjust gross income (AGI) [2]	$105,288,533
Salaries and wages	$82,425,008
Taxable interest	$2,492,658
Ordinary dividends	$1,879,244
Business or professional net income (less loss)	$1,144,977
Net capital gain (less loss)	$697,109
Taxable individual retirement arrangements distributions	$1,929,668
Taxable pensions and annuities	$9,176,707
Unemployment compensation [3]	$348,531
Taxable Social Security benefits	$3,597,659
Self-employment retirement plans	$0
Total itemized deductions [4]	$12,072,729
State and local income taxes	$1,521,641
State and local general sales tax	$120,655
Real estate taxes	$2,158,585
Taxes paid	$3,865,159
Mortgage interest paid	$4,232,077
Contributions	$2,033,340
Taxable income	$77,058,169
Total tax credits [5]	$862,317
Residential energy tax credit	$0
Child tax credit	$631,914
Child and dependent care credit	$62,923
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$10,894,641
Total tax liability [9]	$11,226,269
Tax due at time of filing [10]	$555,238
Overpayments refunded [11]	($2,679,948)

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

Number of returns [1]	1,033
Number of joint returns	862
Number of returns with paid preparer's signature	561
Number of exemptions	2,621
Number of dependents	410
Adjust gross income (AGI) [2]	$132,977,256
Salaries and wages	$93,466,235
Taxable interest	$4,696,074
Ordinary dividends	$3,432,479
Business or professional net income (less loss)	$2,987,705
Net capital gain (less loss)	$1,360,771
Taxable individual retirement arrangements distributions	$3,314,285
Taxable pensions and annuities	$14,493,944
Unemployment compensation [3]	$141,827
Taxable Social Security benefits	$4,229,686
Self-employment retirement plans	$288,127
Total itemized deductions [4]	$17,007,934
State and local income taxes	$2,664,174
State and local general sales tax	$146,778
Real estate taxes	$3,175,415
Taxes paid	$6,070,427
Mortgage interest paid	$5,102,605
Contributions	$3,481,942
Taxable income	$103,740,117
Total tax credits [5]	$426,273
Residential energy tax credit	$0
Child tax credit	$261,450
Child and dependent care credit	$31,000
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$45,159
Income tax [8]	$18,353,057
Total tax liability [9]	$19,002,938
Tax due at time of filing [10]	$1,472,907
Overpayments refunded [11]	($2,464,452)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	251
Number of joint returns	210
Number of returns with paid preparer's signature	192
Number of exemptions	691
Number of dependents	101
Adjust gross income (AGI) [2]	$127,976,399
Salaries and wages	$59,567,199
Taxable interest	$4,814,329
Ordinary dividends	$4,919,345
Business or professional net income (less loss)	$5,931,033
Net capital gain (less loss)	$14,661,058
Taxable individual retirement arrangements distributions	$2,846,416
Taxable pensions and annuities	$5,765,400
Unemployment compensation [3]	$0
Taxable Social Security benefits	$1,590,423
Self-employment retirement plans	$997,226
Total itemized deductions [4]	$16,029,525
State and local income taxes	$3,809,685
State and local general sales tax	$24,756
Real estate taxes	$2,365,875
Taxes paid	$6,523,090
Mortgage interest paid	$2,716,624
Contributions	$3,462,537
Taxable income	$109,870,125
Total tax credits [5]	$164,539
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$8,815
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$660,859
Income tax [8]	$29,418,749
Total tax liability [9]	$30,473,129
Tax due at time of filing [10]	$3,260,997
Overpayments refunded [11]	($1,401,652)

[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.