Fiscal Facts | Tax Policy Center

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Type of deduction over time

Between 2017 and 2018, the share of individual income tax returns claiming itemized deductions declined from 31% to 11%, primarily due to the Tax Cuts and Jobs Act, enacted in 2017.

September 14, 2020

September 14, 2020

Federal tobacco excise tax revenue

In 2019, federal tobacco excise tax revenues totaled $12.5 billion. Excise taxes on tobacco are imposed on a cents per unit basis. Accordingly, real revenues decline due to inflation unless tax rates are raised, which happened most recently in 2009.

September 7, 2020

September 7, 2020

Types of US businesses over time

Most US businesses are nonfarm sole proprietorships, which have comprised about 70% or more of business tax returns filed each year since 1980. These businesses accounted for 4.3% of total business receipts in 2015.

August 31, 2020

August 31, 2020

State Minimum Wage Rates

The minimum wage for most non-tipped employees is equal to the federal rate of $7.25 an hour in 21 states. For the other 29 states and DC, the minimum wage averages just over $10.50 per hour, ranging up to $15 an hour in DC.

August 24, 2020

August 24, 2020

OECD Top Marginal Income Tax Rate

According to OECD calculations, the top marginal income tax rate on wage income (including federal, state, and local levels) was 46% for the US in 2018. The US ranked 22nd out of 36 OECD countries.

August 17, 2020

August 17, 2020

Grocery food is exempt from general sales taxes in most states. And among the 13 states that tax it, only Alabama, Mississippi, and South Dakota levy their full tax rate without a credit or rebate.

August 10, 2020

August 10, 2020

Individual income tax returns filed electronically

Over 137 million federal individual income tax returns, or 89% of the total, were filed electronically in fiscal year 2019. Nearly two decades before, in 2000, this share of returns was under 30%.

August 3, 2020

Federal outlays by function

The federal government's expenditures totaled $4.45 trillion in fiscal year 2019. Nearly two-thirds of the total was spent on major healthcare programs, Social Security, and national defense.

July 27, 2020

Social Security Benefits by AGI

Social Security benefits are an important source of income for households with lower incomes. In 2017, benefits comprised 15% of total adjusted gross income (AGI) for those with AGI under $50,000, compared to less than 1% for those with AGI over $500,000.

July 20, 2020

Gross and net tax gap

The average annual gross tax gap, or the difference between federal taxes owed and the amount paid on time, was $441 billion in 2011-13, according to the IRS's latest estimates. After accounting for late payments and enforcement activities, the net tax gap was $381 billion.

July 13, 2020

IRS audit rate for large corporations

The IRS typically audits the largest corporations at higher rates than small corporations and individuals. In 2019, the audit rate for corporations with over $1B in assets was 17%, down from 44% in 2007.

July 6, 2020

Tobacco tax revenues per capita by state

State and local governments raised over $26 billion in 2017 from net lottery revenue, or $80 per capita across the nation. Rhode Island and Delaware were the only states to raise over $300 per capita from lotteries.

June 29, 2020

US versus Canada Tax Revenues Breakdown

Compared to Canada, the United States relies more heavily on personal income tax and Social Security contributions (65% vs 50%) and less on corporate income tax (4% vs 11%) or consumption taxes such as sales or value-added taxes (18% vs 23%).

June 22, 2020

Since mid-March, over 40 million Americans have filed initial claims for Unemployment Insurance benefits, which exceeds total claims filed during 81 weeks of the Great Recession.

June 15, 2020

IRS audit rate

In 2018, the IRS audited 0.6% of all individual income tax returns filed. The audit rate has steadily declined since 2011, and 2018 saw the lowest individual audit rate in the last 15 years.

June 8, 2020