Upper-incomers carry the brunt of the income tax burden, IRS statistics show. The top 1% of individual filers paid 39.04% of all federal income taxes in 2015, the latest year IRS has analyzed. They reported 20.65% of total adjusted gross income. Filers needed to have AGIs of at least $480,930 to qualify for the top 1% of earners.
The highest 5% paid 59.58% of total income tax and accounted for 36.07% of total adjusted gross income. Each filer in this group had AGI of $195,778 or more.
The top 10%, those with AGIs of at least $138,031, bore 70.59% of the burden while bringing in 47.36% of individuals’ total adjusted gross income for the year.
The bottom 50% of filers paid 2.83% of the total federal income tax take. Their share is so low because the figures don’t include Social Security tax payments and because many of them got substantial relief through refundable tax credits.