Home » Illinois » CHAMPAIGN County » ZIP Code 61875 » Tax Stats

61875 Income Tax Overview

Total Number of Tax Returns for ZIP Code 61875 [1]	379
Total Number of Joint Tax Returns for ZIP Code 61875	175
Total Number of Dependents for ZIP Code 61875	126
Total Adjusted Gross Income for ZIP Code 61875	26,437,982
Average Income per Person for ZIP Code 61875	$34,741

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]	74
Number of joint returns	16
Number of returns with paid preparer's signature	32
Number of exemptions	43
Number of dependents	0
Adjust gross income (AGI) [2]	$101,385
Salaries and wages	$219,284
Taxable interest	$5,339
Ordinary dividends	$19,272
Business or professional net income (less loss)	$0
Net capital gain (less loss)	($25,820)
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$0
Unemployment compensation [3]	$0
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	$37,334
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
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]	$2,870
Total tax liability [9]	$6,403
Tax due at time of filing [10]	$0
Overpayments refunded [11]	($27,678)

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

Number of returns [1]	70
Number of joint returns	0
Number of returns with paid preparer's signature	41
Number of exemptions	98
Number of dependents	25
Adjust gross income (AGI) [2]	$1,211,945
Salaries and wages	$1,035,525
Taxable interest	$12,468
Ordinary dividends	$13,575
Business or professional net income (less loss)	$24,934
Net capital gain (less loss)	$40,026
Taxable individual retirement arrangements distributions	$25,654
Taxable pensions and annuities	$0
Unemployment compensation [3]	$0
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	$436,701
Total tax credits [5]	$7,241
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$72,347
Excess earned income credit (refundable) [7]	$58,227
Alternative minimum tax	$0
Income tax [8]	$38,039
Total tax liability [9]	$42,304
Tax due at time of filing [10]	$0
Overpayments refunded [11]	($151,621)

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

Number of returns [1]	76
Number of joint returns	30
Number of returns with paid preparer's signature	45
Number of exemptions	157
Number of dependents	29
Adjust gross income (AGI) [2]	$2,762,990
Salaries and wages	$2,023,047
Taxable interest	$63,292
Ordinary dividends	$14,557
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$399,609
Unemployment compensation [3]	$88,937
Taxable Social Security benefits	$200,259
Self-employment retirement plans	$0
Total itemized deductions [4]	$347,343
State and local income taxes	$15,892
State and local general sales tax	$0
Real estate taxes	$54,416
Taxes paid	$81,015
Mortgage interest paid	$127,719
Contributions	$10,960
Taxable income	$1,437,349
Total tax credits [5]	$37,881
Residential energy tax credit	$0
Child tax credit	$27,368
Child and dependent care credit	$0
Earned income credit [6]	$19,624
Excess earned income credit (refundable) [7]	$14,632
Alternative minimum tax	$0
Income tax [8]	$139,900
Total tax liability [9]	$160,549
Tax due at time of filing [10]	$37,379
Overpayments refunded [11]	($163,592)

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

Number of returns [1]	57
Number of joint returns	44
Number of returns with paid preparer's signature	31
Number of exemptions	150
Number of dependents	30
Adjust gross income (AGI) [2]	$3,625,791
Salaries and wages	$2,845,311
Taxable interest	$40,771
Ordinary dividends	$32,801
Business or professional net income (less loss)	$145,716
Net capital gain (less loss)	$6,797
Taxable individual retirement arrangements distributions	$89,664
Taxable pensions and annuities	$209,245
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$404,504
State and local income taxes	$37,242
State and local general sales tax	$0
Real estate taxes	$77,891
Taxes paid	$118,536
Mortgage interest paid	$120,866
Contributions	$92,726
Taxable income	$2,316,620
Total tax credits [5]	$49,503
Residential energy tax credit	$0
Child tax credit	$27,111
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]	$262,645
Total tax liability [9]	$292,622
Tax due at time of filing [10]	$0
Overpayments refunded [11]	($121,859)

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

Number of returns [1]	40
Number of joint returns	32
Number of returns with paid preparer's signature	30
Number of exemptions	104
Number of dependents	17
Adjust gross income (AGI) [2]	$3,428,073
Salaries and wages	$2,055,745
Taxable interest	$82,652
Ordinary dividends	$29,098
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$152,238
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$417,658
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$307,667
State and local income taxes	$36,717
State and local general sales tax	$0
Real estate taxes	$57,739
Taxes paid	$100,073
Mortgage interest paid	$105,588
Contributions	$0
Taxable income	$2,495,223
Total tax credits [5]	$32,473
Residential energy tax credit	$0
Child tax credit	$31,600
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]	$322,244
Total tax liability [9]	$384,875
Tax due at time of filing [10]	$108,324
Overpayments refunded [11]	($69,679)

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

Number of returns [1]	43
Number of joint returns	36
Number of returns with paid preparer's signature	28
Number of exemptions	117
Number of dependents	25
Adjust gross income (AGI) [2]	$6,022,895
Salaries and wages	$3,465,124
Taxable interest	$90,919
Ordinary dividends	$144,401
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$57,534
Taxable individual retirement arrangements distributions	$212,272
Taxable pensions and annuities	$1,105,138
Unemployment compensation [3]	$0
Taxable Social Security benefits	$213,927
Self-employment retirement plans	$0
Total itemized deductions [4]	$806,583
State and local income taxes	$107,255
State and local general sales tax	$0
Real estate taxes	$154,697
Taxes paid	$285,152
Mortgage interest paid	$286,843
Contributions	$187,135
Taxable income	$4,712,492
Total tax credits [5]	$23,742
Residential energy tax credit	$0
Child tax credit	$0
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]	$834,891
Total tax liability [9]	$936,947
Tax due at time of filing [10]	$512,101
Overpayments refunded [11]	($130,625)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	19
Number of joint returns	17
Number of returns with paid preparer's signature	13
Number of exemptions	49
Number of dependents	0
Adjust gross income (AGI) [2]	$9,284,903
Salaries and wages	$1,809,814
Taxable interest	$129,434
Ordinary dividends	$203,047
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$605,675
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$0
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$752,169
State and local income taxes	$209,294
State and local general sales tax	$0
Real estate taxes	$113,610
Taxes paid	$326,620
Mortgage interest paid	$0
Contributions	$241,327
Taxable income	$8,363,788
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
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]	$2,151,439
Total tax liability [9]	$2,382,072
Tax due at time of filing [10]	$0
Overpayments refunded [11]	$0

[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.