President Joe Biden and his wife, Jill, earned $610,702 during their first year in the White House and paid $150,439 in federal income taxes.
That's a tax rate of 24.6% for 2021, well over the average federal rate of around 14%. Those totals, released on Friday, tax day, were similar to the Bidens' 2020 returns when they reported earning $607,336. They reported 25.9% of their income going to federal taxes then.
The IRS has mandated for over four decades that the tax returns of sitting presidents and vice presidents be audited. The President and First Lady filed their income tax return jointly and reported federal adjusted gross income of $610,702. They paid $150,439 in federal income tax, and their 2021 effective federal income tax rate is 24.6 percent.
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Bidens paid 24.6% taxes on $610,702 earnings, returns showBoth this year and last were steep drops from 2019 for the Bidens, when they earned nearly $1 million, primarily from book sales, speeches and their teaching positions at the University of Pennsylvania and Northern Virginia Community College.
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Bidens paid 24.6% taxes on $610,702 earnings, returns showPresident Biden and his wife, Jill, earned $610,702 during their first year in the White House and paid $150,439 in federal income taxes
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Bidens paid 24.6% taxes on $610,702 earnings, returns showBoth this year and last were steep drops from 2019 for the Bidens, when they earned nearly $1 million, primarily from book sales, speeches and their teaching positions at the University of Pennsylvania and Northern Virginia Community College.
Leer más »
Bidens Paid 24.6% Taxes on $610,702 Earnings, Returns ShowPresident Joe Biden and his wife, Jill, earned $610,702 during their first year in the White House and paid $150,439 in federal income taxes.
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Bidens Paid 24.6% Taxes On $610,702 Earnings, Returns ShowThis year's return was a steep drop from 2019 when the Bidens earned nearly $1 million, primarily from book sales, speeches and their teaching positions.
Leer más »
President Biden earned $610,710 in 2021, paid 25% in federal taxes, returns showPresident Joe Biden and first lady Jill Biden paid $150,439 in federal income taxes last year after earning $610,702, tax returns show.
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