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LAKE, TN IRS Tax Stats



LAKE, TN Income Tax Overview

2010 Population for LAKE, TN 0
Total Number of Tax Returns for LAKE, TN [1] 2,263
Total Number of Joint Tax Returns for LAKE, TN 783
Total Number of Dependents for LAKE, TN 1,098
Total Adjusted Gross Income for LAKE, TN $71,342,589

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


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

Number of tax returns [1] 520
Number of joint returns 49
Number of returns with paid preparer's signature 319
Number of exemptions 778
Number of dependents 205
Adjust gross income (AGI) [2] $2,294,972
Salaries and wages $2,115,875
Taxable interest $75,780
Ordinary dividends $12,944
Business or professional net income (less loss) $469,097
Net capital gain (less loss) $0
Taxable individual retirement arrangements distributions $0
Taxable pensions and annuities $71,931
Unemployment compensation [3] $30,842
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 $7,587
Taxes paid $0
Mortgage interest paid $0
Contributions $0
Taxable income $40,526
Total tax credits [5] $0
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $476,602
Excess earned income credit (refundable) [7] $409,228
Alternative minimum tax $0
Income tax [8] $4,012
Total tax liability [9] $82,901
Tax due at time of filing [10] $4,066
Overpayments refunded [11]

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

Number of tax returns [1] 745
Number of joint returns 148
Number of returns with paid preparer's signature 536
Number of exemptions 1,561
Number of dependents 432
Adjust gross income (AGI) [2] $12,749,683
Salaries and wages $10,500,768
Taxable interest $181,991
Ordinary dividends $31,196
Business or professional net income (less loss) $598,089
Net capital gain (less loss) $5,462
Taxable individual retirement arrangements distributions $196,848
Taxable pensions and annuities $1,076,670
Unemployment compensation [3] $189,420
Taxable Social Security benefits $25,951
Self-employment retirement plans $0
Total itemized deductions [4] $199,103
State and local income taxes $0
State and local general sales tax $0
Real estate taxes $0
Taxes paid $30,175
Mortgage interest paid $0
Contributions $0
Taxable income $2,692,446
Total tax credits [5] $60,911
Residential energy tax credit $0
Child tax credit $42,065
Child and dependent care credit $0
Earned income credit [6] $1,319,401
Excess earned income credit (refundable) [7] $1,226,149
Alternative minimum tax $0
Income tax [8] $228,990
Total tax liability [9] $351,626
Tax due at time of filing [10] $32,262
Overpayments refunded [11]

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

Number of tax returns [1] 563
Number of joint returns 228
Number of returns with paid preparer's signature 367
Number of exemptions 1,234
Number of dependents 274
Adjust gross income (AGI) [2] $19,653,498
Salaries and wages $16,531,309
Taxable interest $280,131
Ordinary dividends $30,707
Business or professional net income (less loss) $86,667
Net capital gain (less loss)
Taxable individual retirement arrangements distributions $313,427
Taxable pensions and annuities $1,330,442
Unemployment compensation [3] $123,647
Taxable Social Security benefits $462,436
Self-employment retirement plans $0
Total itemized deductions [4] $1,048,622
State and local income taxes $0
State and local general sales tax $87,831
Real estate taxes $40,808
Taxes paid $130,105
Mortgage interest paid $346,460
Contributions $244,758
Taxable income $10,133,490
Total tax credits [5] $227,298
Residential energy tax credit $0
Child tax credit $186,753
Child and dependent care credit $5,718
Earned income credit [6] $214,220
Excess earned income credit (refundable) [7] $188,068
Alternative minimum tax $0
Income tax [8] $1,007,500
Total tax liability [9] $1,115,581
Tax due at time of filing [10] $112,122
Overpayments refunded [11]

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

Number of tax returns [1] 245
Number of joint returns 197
Number of returns with paid preparer's signature 160
Number of exemptions 627
Number of dependents 116
Adjust gross income (AGI) [2] $14,897,854
Salaries and wages $11,391,250
Taxable interest $189,593
Ordinary dividends $41,720
Business or professional net income (less loss) $190,723
Net capital gain (less loss) $21,640
Taxable individual retirement arrangements distributions $374,925
Taxable pensions and annuities $1,403,306
Unemployment compensation [3] $35,911
Taxable Social Security benefits $701,755
Self-employment retirement plans $0
Total itemized deductions [4] $213,352
State and local income taxes $0
State and local general sales tax $22,815
Real estate taxes $17,277
Taxes paid $40,541
Mortgage interest paid $0
Contributions $33,673
Taxable income $9,961,100
Total tax credits [5] $161,090
Residential energy tax credit $0
Child tax credit $128,046
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] $1,182,359
Total tax liability [9] $1,279,914
Tax due at time of filing [10] $122,766
Overpayments refunded [11]

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

Number of tax returns [1] 106
Number of joint returns 96
Number of returns with paid preparer's signature 69
Number of exemptions 280
Number of dependents 41
Adjust gross income (AGI) [2] $8,991,551
Salaries and wages $6,387,655
Taxable interest $124,825
Ordinary dividends $62,413
Business or professional net income (less loss) $66,387
Net capital gain (less loss) $0
Taxable individual retirement arrangements distributions $344,568
Taxable pensions and annuities $960,759
Unemployment compensation [3] $0
Taxable Social Security benefits $605,807
Self-employment retirement plans $0
Total itemized deductions [4] $582,733
State and local income taxes $0
State and local general sales tax $53,613
Real estate taxes $25,683
Taxes paid $90,399
Mortgage interest paid $148,583
Contributions $68,292
Taxable income $6,555,712
Total tax credits [5] $69,412
Residential energy tax credit $0
Child tax credit $69,550
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] $858,895
Total tax liability [9] $902,634
Tax due at time of filing [10] $90,138
Overpayments refunded [11]

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

Number of tax returns [1] 84
Number of joint returns 65
Number of returns with paid preparer's signature 69
Number of exemptions 198
Number of dependents 30
Adjust gross income (AGI) [2] $12,755,031
Salaries and wages $4,787,458
Taxable interest $541,193
Ordinary dividends $304,896
Business or professional net income (less loss) $0
Net capital gain (less loss) $185,379
Taxable individual retirement arrangements distributions $0
Taxable pensions and annuities $350,915
Unemployment compensation [3] $0
Taxable Social Security benefits $595,680
Self-employment retirement plans $0
Total itemized deductions [4] $681,187
State and local income taxes $0
State and local general sales tax $69,457
Real estate taxes $49,152
Taxes paid $170,455
Mortgage interest paid $60,222
Contributions $268,065
Taxable income $10,693,813
Total tax credits [5] $11,500
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] $2,067,285
Total tax liability [9] $2,342,247
Tax due at time of filing [10] $590,193
Overpayments refunded [11]

[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.


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