This post should be an update for the August 2, 2021 post which showed data from 2015

According to this article, in 2020, 61% of American taxpayers did not pay Federal Income Tax. In 2021, no household making under $28,000 will pay any federal taxes due to the credits and tax changes.

In the year 2020, the top 20% of taxpayers paid 78% of federal income taxes. The top 1% of taxpayers paid 28% of all taxes in the same year

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.