The largest source of federal revenue is the corporate income tax.
The largest source of federal revenue is the individual income tax.

Question

Quizplus · Accepted Answer

The largest source of federal revenue is the individual income tax. According to the Congressional Budget Office, in 2019, the individual income tax accounted for 50% of all federal revenue, while the corporate income tax accounted for only 7%. Other sources of federal revenue include social insurance taxes (such as payroll taxes for Social Security and Medicare) and excise taxes.

The Largest Source of Federal Revenue Is the Corporate Income