For estate tax returns filed in 2021 (which cover deaths in prior years), over 80% of net tax revenue came from estates valued at over $20 million, while only 1% came from estates valued under $10 million.
August 14, 2023
The EITC primarily boosts the incomes of low-income working families with children. In 2020, nearly 80% of total EITC benefits went to tax filers with adjusted gross income under $30,000.
August 7, 2023
In the past 90 years, the top federal individual income tax rate has ranged from 7 percent to 94 percent. In 2023, the top rate is 37 percent.
July 31, 2023
In 2021, state and local governments collected $19.5 billion from tobacco taxes. In terms of revenue per capita, New Hampshire ($181), Rhode Island ($145), and Alaska ($138) collected the most.
July 24, 2023