See which age group pays the most in taxes each year

Since 1913, Americans have paid income taxes at varying rates

In the 2020s, the top marginal tax rate has floated around 37%, relatively lower than previous eras. Some have called for boosting the rate significantly to tax the highest earners.

What America's 1% pays in taxes, by state

In the US, the top 1% of earners contribute 45% of all personal income taxes collected nationwide. But not all states are created equal when it comes to income tax. Some states are more dependent on the 1% than others for tax revenue. SmartAsset recently examined IRS tax return data to determine exactly how much the top 1% of earners in each state paid in taxes. Find your state here.

Americans ages 30 to 34 have $44,800 in their 401(k) accounts on average

Americans ages 28 to 44 save about 13.5% of their pretax income on average, which is close to the recommended retirement savings rate of 15%.

80% of Americans are bothered that some wealthy people don't pay their fair share of taxes

That's according to 2021 data from Pew Research Center. While most people are taxed on their income, many people in America's 1% make money off of their investments instead.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

Learn how tax brackets actually work

The US has a series of tax brackets which grow progressively larger based on the amount of income a taxpayer makes. Contrary to common belief, most people don't pay just one tax bracket, but all of them progressively until they reach their income.

Individual income taxes are the federal government's primary revenue source, see a tracker that breaks down where the rest of the budget comes from

The US government historically makes nearly half of its total revenue last year from individual income taxes. But the US makes also makes money from a variety of other sources, including Medicare taxes and corporate income taxes. However, the federal government has run a deficit since 2001—reaching a peak of $3.13T in 2020.

Americans spend an average of $200 on tax preparation services like TurboTax and H&R Block

In 2025, about half of Americans were able to file taxes directly with the IRS for free. It was the second year of the agency's new program, which cuts out intermediaries. Though tax preparation has been free for many Americans, critics say tax companies upsell customers.

Hawaii and New York have the highest tax burdens out of all US states, both exceeding 12% of income

The term "tax burden" in this case refers to property, income, sales, and excise taxes as a share of total personal income. Alaska and New Hampshire have the lowest total tax burdens in the US, both falling below 6%.

The overall median annual salary in the US was $62,192 as of 2025

The age group with the highest median annual salary in the US, $70,824, was made up of people ages 45 to 54, according to Bureau of Labor Statistics data from July 28, 2025.

Historically, only about 1% to 2% of Americans had to pay the federal estate tax

Recent IRS data shows that between 2011-16, that number dropped even lower: The federal estate tax only impacts about 0.2% of Americans. Death taxes typically only impact the rich, and the federal estate tax is no exception.

See comparisons of different countries' taxation strategies

Taxes are a major revenue source for most countries, and how each government taxes citizens often reflects the country's economy. Developed countries tax at much higher rates than developing ones, and as a country grows its GDP, it also typically grows the proportional percentage of taxes it gains from its citizens.

Use this calculator to find out what your federal income taxes pay for

In the fiscal year 2024, the US federal government's biggest spending priorities included $1.5T on Social Security, $877B on national defense, and $874B on Medicare. This calculator from the Microsoft AI for Good Lab can help you estimate how your tax dollars are allocated across $6.8T in federal spending.

Most pensions are subject to federal income taxes

Those taxes kick in once someone starts taking distributions from their pension. Whether a pension is subject to state income taxes depends on the state and other factors. Learn more about how pensions are taxed in this article.

About one dollar in every six that are owed to the federal government aren't paid each year

That adds up to close to $1T in what's known as the "tax gap." Read a breakdown on the main drivers of tax evasion (distinct from legal tax avoidance) in the US.

Americans are projected to inherit $105T over the next 30 years

Today, someone's financial standing has more to do with their families than any other outside factor. Of the more than $100T of projected inheritance, that money is concentrated among a few wealthy estates and families.

Warren Buffett paid a lower effective tax rate than his secretary

While wages and salaries are taxed progressively at rates up to 37%, long-term investments are taxed at lower rates: 0%, 15%, or 20%. For wealthy individuals like Buffett, whose income mainly comes from investments, this means paying a lower effective tax rate than someone earning a salary.

Short-term capital gains are gains on sales made in less than a year

In 2024, a single filer making anywhere between $200,001 and $243,725 per year would pay a 15% tax on long-term capital gains. But when it comes to short-term capital gains, they’d be taxed at the same rate as their regular income, which, in their case, is 32%.

Half of Americans have an unfavorable opinion of the IRS, while 38% have a favorable view

From July 1 to July 7, 2024, Pew Research Center conducted a survey of 9,424 adults to gauge the public's attitudes about the federal government, including government agencies and departments. Of 13 agencies, 10 had net favorable ratings of 15 percentage points or more. Topping the list were the National Park Service (76% favorable), the US Postal Service (72%) and NASA (67%).

What's your tax filing status? Find out with this video

There are five different filing statuses taxpayers fall under when they file income taxes: single, married and filing jointly, married and filing separately, head of household, and surviving spouse. Taxpayers' status is determined by whichever category they fit into on December 31st of the tax year they're filing for.

Calculate whether or not you're in the American middle class

In 2022, roughly 52% of US adults lived in middle-income households. This income calculator can help you determine whether or not you're one of them. Specifically, the calculator lets you enter your household income, location, and more to see where you line up in Pew's government data.

Check out a list of 15 red flags that might result in an IRS audit

The Internal Revenue Service has audited less than 1% of all individual tax returns. If you're still worried about being audited, know that some people are more likely to be audited than others, such as people who make a lot of money and those who take large charitable deductions.

If you miss the April 15 tax deadline, you could be subject to penalties

This does not apply if you file for an extension. Otherwise, you could face failure to file penalties no matter how late you file your taxes—whether it's April 16 or May 16. The penalty is 5% of the tax due for each month (or part of a month) that your return is late, minus any taxes paid on time and available credits. If you file more than 60 days late, you could owe a minimum penalty of either $525 or 100% of the unpaid tax—whichever is less.

Immigrants generated about $1.7T in economic activity in 2023 and paid roughly $652B in taxes

This economic output surpasses their 14.3% share of the US population, and their labor force participation rate of nearly 67% is higher than the approximately 62% rate for US-born workers.

Women tend to tip more often than men

For instance, among people who visit hair salons or barber shops, 62% of female respondents said they always tipped. Only 45% of men said the same. This article includes more takeaways and stats about how Americans tip, and who receives them.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

Student loan debt isn’t evenly distributed across age groups

Millennials and Gen X borrowers account for more than 70% of outstanding federal student debt ($1.1T). The discrepancy is driven by several factors, including a drop in college enrollment by younger Americans and older cohorts having more years to pay off balances.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

The USPS spent $3.97B in 2024, accounting for .058% of the federal budget.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Despite being favored by 87% of Americans, Congress does not have term limits.

About 12.5% of US adults experience a phobia in their lifetime, a diagnosis that hinges on the intense fear interfering with daily life and persisting for at least six months.

Meet the 56 signers of the Declaration of Independence—most of whom didn't put pen to paper until August 2, 1776—and see their original signatures.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

11 people died from firework injuries in the US in 2024.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

20,000 letters to the advice columnist 'Dear Abby' provide insight into prevailing sex, religion, and LGBTQ fears, anxieties, and concerns from the 1950s onward.

Between 10 million and 50 million people in the US develop rashes from poison ivy, poison sumac, and poison oak each year.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

See how each of the more than two million known species relates to each other—and to common ancestors—in this zoomable tree of life.

Bone marrow (soft tissue found inside certain bones) generates roughly 500 billion new blood cells each day

Scientists can determine Earth's past climate conditions by analyzing air trapped in microscopic bubbles within ice cores—columns of compressed snow layers that build up over hundreds of thousands of years.