IRS: Nearly 1,500 millionaires paid no federal income tax in 2009

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Of an already small pool of millionaires and billionaires, 1,470 didn’t pay any federal income taxes in 2009, according to the Internal Revenue Service.

Just over 0.1% of taxpayers -- or 8,274 out of 140 million total -- made more than $10 million in 2009, according to the agency. More than 235,000 taxpayers earned $1 million or more, according to a recent report from the agency.

But of the high earners who avoided paying income taxes, many did so due to heavy charity donations or foreign investments.

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