In 2019, interest and dividends comprised 21% of adjusted gross income (AGI) for those with AGI over $10 million, compared to 3% for those with AGI under $100,000.
September 5, 2022
9.1% of individual income tax filers claimed the deduction for charitable contributions in tax year 2019. Among states, the share was highest in Maryland (19.6%) and lowest in West Virginia (3.1%).
August 29, 2022
The federal government collected $5.3 billion from taxes on retirement annuities of railroad workers in fiscal year 2021. Railroad retirement tax collections were relatively stable for years before the COVID-19 pandemic.
August 22, 2022
Tax returns claiming the Credit for the Elderly or the Disabled have declined over time since the credit amount and income limits have not been adjusted for inflation in 35 years. In 2019, 41,000 claimed the credit, compared to over 300,000 in the 1970s and 1980s.
August 15, 2022