IRS Releases
Spring 2004 Statistics of Income

Courtesy of IRS


WASHINGTON - The Internal Revenue Service today announced the release of the Spring 2004 issue of the Statistics of Income Bulletin, a quarterly compilation of information on selected topics from tax returns and other sources.

For the first time, the Bulletin takes a detailed look at individual retirement arrangements.

At the end of 2000, 46.3 million taxpayers held IRA accounts worth a total of $2.6 trillion in fair market value. The bulk - $2.4 trillion, or 91.5 percent - was invested in traditional IRA plans, which have been available for the longest amount of time.

Of the remaining amount:

• $134 billion was invested in Simplified Employee Pension (SEP) plans,
• $77.6 billion in Roth IRAs,
• $10.4 billion in Savings Incentive Match Plans for Employees (SIMPLE)
• and $0.3 billion in Education IRAs.