Income Tax Liability Chart
August 24th, 2010
Question: “federal income tax liabilities”?
What exactly is the definition of the term “federal income tax liabilities”? What is this chart indicating? http://s241.photobucket.com/albums/ff319/goldfinch331/?action=view¤t=ShareOfFederalTaxLiabilities.gif
Answer: “Federal income tax liability” is the amount (or percentage) of taxes that a person (or people) is responsible for.
The chart indicates, year to year, the % of all federal taxes paid by individuals whose incomes were in the top 20% of all incomes.
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Federal Income Tax Withholding Chart for 2009, 2010
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