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Judging by income tax returns filed last month, salaried taxpayers, but also the self-employed, took home more money in 2023 than in previous tax years.
According to information provided by the Treasury Department, in 2023 returns, the income reported on the W2 receipt, which is used to disclose salary compensation, was $28.131 million. Meanwhile, reported income from professional services, which is typically reported on a 480 return, was $37.75 billion.
In the case of salaries, the $28,131 million announced for Treasury represents an increase of about $1,800 million – or 6.8% – compared to salaries reported in 2022. Likewise, Professional Services reflected growth of $4,808 million, or 14.6% more. This is when comparing the number to what was reported in 2022.
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