Who Earns Dividend Income?

The IRS recently released some interesting new tax return data by age group for 2008. One set of numbers on taxpayers with dividend income sheds light on how seniors will be impacted if the current 15 percent tax rate on dividend income is allowed to expire at the end of 2010 and dividends revert to being taxed at the personal income tax rate, which could go as high as 39.6 percent.