Biden and Harris exempt the tax on the return to tradition: NPR

What probably wouldn’t be big news in other years are headlines this year: President Joe Biden has published tax returns.

The release of his financial notes, as well as those of Vice President Kamala Harris, marks the return of the White House tradition defied by former President Donald Trump during his 45th presidential term.

“Today, the president announced his federal income tax return for 2020, continuing an almost unbroken tradition,” the White House said. he said on Monday, the deadline for filing income tax 2020.

According to submissions published by the White House, Biden and First Lady Jill Biden together earned $ 607,336 in 2020. The couple donated just under $ 31,000 – about 5% of their income – to charity. Together, they owed $ 157,414 in federal income tax.

Their combined income for last year, while Biden was on the trail of the campaign, was significantly lower than for 2019. The couple reported an adjusted gross income of about 985,000 US dollars for that year.

Harris and her husband Doug Emhoff seem to have had a more financially successful year, even though they also made less money than the previous year.

The California couple had adjusted gross income of $ 1,695,300 in 2020, according to their data tax returns. That is a drop of 45% compared to earnings from 2019 $ 3,095,590.

Harris earned about $ 346,000 from her authorial work, and the couple donated just over $ 27,000 to charity. In total, they owed a total of $ 621,893 in taxes.

In contrast, the tax returns he obtained New York Times showed that Trump paid $ 750 a year in taxes for the first two years of his term.

Throughout his presidency, Trump claimed he could not fire his return because he was audited by the Internal Revenue Service. The move broke a decades-long presidential precedent. But the IRS routinely revised the personal tax returns of every president and vice president who had sat since the early 1970s, when both President Richard Nixon and Vice President Spiro Agnew were embroiled in tax scandals during the Watergate era.