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ZIP Code 62571 Income and Tax Statistics
Tower Hill, IL. Individual income tax returns for tax year 2022, from IRS Statistics of Income
- Tax returns
- 580
- 1,130 people on returns
- Average adjusted gross income
- $68,290
- Illinois $96,774
- Average salaries and wages
- $53,807
- Returns with wages
- Average income tax
- $8,238
- Illinois $18,834
Returns by adjusted gross income
Returns with negative income are not included
- $1 to $24,99916027.6%
- $25,000 to $49,99914024.1%
- $50,000 to $74,99910017.2%
- $75,000 to $99,9997012.1%
- $100,000 to $199,9999015.5%
- $200,000 or more203.4%
Income, credits and taxes in 62571
Returns that reported each item, the total amount and the average for those returns
Swipe the table sideways to see more columns.
| Item | Returns | Share of returns | Total | Average |
|---|---|---|---|---|
| Salaries and wages | 460 | 79.3% | $24.75M | $53,807 |
| Business or professional income | 70 | 12.1% | $387K | $5,529 |
| Net capital gains | 100 | 17.2% | $972K | $9,720 |
| Taxable pensions and annuities | 160 | 27.6% | $3.52M | $22,000 |
| Taxable Social Security benefits | 150 | 25.9% | $1.99M | $13,247 |
| Itemized deductions | 0 | 0.0% | $0 | Not shown |
| Earned income tax credit | 90 | 15.5% | $192K | $2,133 |
| Refundable child tax credit | 70 | 12.1% | $107K | $1,529 |
| Income tax after credits | 420 | 72.4% | $3.46M | $8,238 |
| Refunds | 420 | 72.4% | $1.12M | $2,664 |
Frequently asked questions
- What is the average income in ZIP code 62571?
- For tax year 2022, the average adjusted gross income on the 580 individual tax returns filed in 62571 was $68,290, compared with $96,774 for Illinois.
- How many people in 62571 get the earned income tax credit?
- 90 returns in 62571 (15.5%) claimed the earned income tax credit for tax year 2022.
- Why might these numbers differ from Census income figures?
- IRS figures count tax returns, not households, and use adjusted gross income from the return. People who do not file a return are not included.
Source: Internal Revenue Service, Statistics of Income · Tax year 2022