Tax season does not play favorites — if you earned income in 2021, you need to file taxes on that income in 2022. This includes President Joe Biden and Vice President Kamala Harris, who both released their 2021 federal income tax returns last week.
If you want to get a full look at the tax returns of the nation’s two leading office holders, use this link to skip on over to the WhiteHouse.gov website to view the complete returns.
The abbreviated version is this: Biden and First Lady Jill Biden paid $150,439 in federal income tax on their 2021 return, at an effective federal income tax rate of 24.6%. Their adjusted gross income for the year was $610,702.
The president and first lady also reported contributions of $17,394 to 10 different charities. The largest charitable gift was $5,000 to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse.
On their Delaware income tax return, the Bidens reported paying $30,765 in state income tax. Jill Biden also reported paying $2,721 in state income tax on her Virginia tax return.
Harris and Second Gentleman Douglas Emhoff reported federal AGI of $1.65 million and paid $523,371 in federal income taxes, equaling a 2021 effective federal income tax rate of 31.6%. They also paid $120,517 in California income tax and $2,044 in New York income tax. In addition, Emhoff paid $54,441 in District of Columbia income tax.
More From GOBankingRates