What are the sources of revenue for the federal government? Q.What are the sources of revenue for the federal government? A.About 48 percent of federal revenue comes from individual income taxes, 9 percent from corporate income taxes, and another 35 percent from payroll taxes that fund social insurance programs (figure 1). The rest comes from a mix of sources. Read more about What are the sources of revenue for the federal government?
What are tax extenders? Q.What are tax extenders? A.Several dozen temporary tax breaks expired at the end of 2017. They are often collectively known as the “tax extenders” because lawmakers likely will consider extending most or all of them. The temporary-but-not-temporary character of these provisions complicates tax policy and budgeting. Read more about What are tax extenders?
How are federal taxes distributed? Q.How are federal taxes distributed? A.Although enterprises (e.g., retailers, employers) are legally obligated to pay certain taxes, the burden of all taxes ultimately falls on households. Read more about How are federal taxes distributed?
