Summary of the Latest Federal Income Tax Data, 2016 Update

The Internal Revenue Service has recently released new data on individual income taxes for calendar year 2014, showing the number of taxpayers, adjusted gross income, and income tax shares by income percentiles.[1] The data demonstrates that the U.S. individual income tax continues to be very progressive, borne mainly by the highest income earners. In 2014, … Continue reading Summary of the Latest Federal Income Tax Data, 2016 Update