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

Question

Quizplus · Accepted Answer

According to data from the Tax Foundation, individual income taxes make up the largest portion of U.S. Federal Tax revenues, accounting for approximately 50% of total revenue in 2020. Corporate income taxes, employment taxes, and estate and gift taxes make up significantly smaller portions of federal tax revenue.

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