U.S. taxpayers with ultra-high incomes took the biggest hit during the first year of the recent economic crisis, according to an analysis of 2008 tax statistics.
The Internal Revenue Service (IRS) recently released 2008 individual income tax return data.
A comparison with the 2007 individual income tax return data shows that the 142 million Americans who filed individual returns in 2008 reported an average of $58,005 in adjusted gross income each, down 4.5% from the 2007 average.
The percentage of participants who reported no adjusted increase income increased to 1.8%, from 1.3%.