4.7 million Americans earned more than $200k

MGN Online
Tuesday, June 3, 2014 - 9:09am

Nearly five-million Americans fall into the top tax bracket. That's according to new data released by the IRS.

The report shows about 4.7 million U.S. taxpayers earned at least $200,000 in 2011. Almost all of them ended up owing taxes on their federal returns that year.

Less than 1% paid no taxes, thanks to deductions, exclusions and credits. Most paid between 15 and 25% of their income in taxes.

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