Which of the following taxes represents the largest portion of U.S. federal tax revenues?
A)Employment taxes
B)Corporate income taxes
C)Individual income taxes
D)Estate and gift taxes
E)None of the choices are correct

Question

Quizplus · Accepted Answer

Individual income taxes make up the largest portion of U.S. federal tax revenues. This is because they are imposed on the largest base of taxpayers, including individuals, married couples, and corporations. In 2019, individual income tax revenue amounted to approximately $1.725 trillion, which was roughly half of all federal tax revenue.

Which of the Following Taxes Represents the Largest Portion of U.S