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1 Scott Greenberg, Summary of the Latest Federal Income Tax Data, 2015 Update 1 (2015)

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Nov. 2015
No. 491

The Tax Foundation is a 501(c)(3)
non-partisan, non-profit research
institution founded in 1937 to
educate the public on tax policy.
Based in Washington, D.C., our
economic and policy analysis is
guided by the principles of sound
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@2015 Tax Foundation
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Designer, Dan Carvajal

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Summary of the Latest

Federal Income Tax Data, 2015 Update

By  Scott   Greenberg

The  Internal Revenue Service has recently released new data on individual income
taxes for calendar year 2013, showing the number   of taxpayers, adjusted gross
income, and  income tax shares by income  percentiles.'

The data demonstrates   that the U.S. individual income tax continues to be
progressive, borne mainly by the highest income  earners.

Key   Findings

*   In 2013, 138.3 million taxpayers reported earning $9.03 trillion in adjusted gross
    income  and paid $1.23 trillion in income taxes.

 *  Every income  group besides the top 1 percent of taxpayers reported higher income
    in 2013 than the previous year. All income groups paid higher taxes in 2013 than
    the previous year.

 *  The share of income earned  by the top 1 percent of taxpayers fell to 19.0 percent
    in 2013. Their share of federal income taxes fell slightly to 37.8 percent.

 *  In 2012, the top 50 percent of all taxpayers (69.2 million filers) paid 97.2 percent
    of all income taxes while the bottom 50 percent paid the remaining 2.8 percent.

 *  The top 1 percent (1.3 million filers) paid a greater share of income taxes (37.8
    percent) than the bottom 90 percent (124.5 million filers) combined (30.2 percent).

 *  The top 1 percent of taxpayers paid a higher effective income tax rate than any
    other group, at 27.1 percent, which is over 8 times higher than taxpayers in the
    bottom  50 percent (3.3 percent).

1  Individual Income Tax Rates and Tax Shares, Internal Revenue Service Statistics of Income, http://www.irs.gov/uac/

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