Taxes

Federal revenues come largely from individual income taxes and payroll taxes, with corporate income taxes and other taxes playing smaller roles. CBO projects future federal revenues under current law, estimates the distribution of income and federal taxes, and analyzes the effects of various features of the federal tax system and potential changes to that system. (A separate page on the Budget provides information about a broader set of CBO's work in that area.)

REVENUE PROJECTIONS FOR FY 2023

(As of )

INDIVIDUAL INCOME TAXES

$2.5 Trillion

PAYROLL TAXES

$1.6 Trillion

CORPORATE INCOME TAXES

$475 Billion

OTHER

$252 Billion

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    CBO examines the tax benefit of having dependents under current law in 2019 and 2026 and analyzes how three policy options that would simplify dependent-related tax provisions would affect that benefit.