Of the various charitable donations, the largest amount was $ 5,000, which was donated to the Pew Biden Foundation. The charity, named after the president’s late son, aims to protect children from abuse. Other organizations include the Tragedy Assistance Program for Survivors, a support group for mourning military families, as well as St. Joseph’s Church in Brandywine, Fiden’s Wilmington, Delaware.
Fidens’ previous compound tax returns from 2020 showed that they had paid $ 607,336 in federal adjusted total income and $ 157,414 in federal income tax.
Fiden’s saw a significant drop in revenue in 2020 – when Fiden ran for the presidency, he vacated his position at the University of Pennsylvania and became less talkative. In 2019, Bidens announced a revised total income of approximately $ 985,000.
Tax reports are released on Friday, three days before the official tax filing deadline in the United States on Monday.
In particular, they donated $ 5,000 in 2021 to CSUN (California State University, Northridge) Arts and Communications Fund, Howard University and the University of Southern California.
While paying $ 1,695,225 in AGI and $ 621,893 in taxes, the second couple’s adjusted total income equals their 2020 income.
By re-releasing their income, the Biden administration has restored the previous practice of President Richard Nixon that was interrupted when Donald Trump was in office. Trump has refused to release his tax return, repeatedly claiming he is under audit. According to the IRS, every president and vice president since the Watergate period will be guaranteed an audit each year.
“The president has shared a total of 24 tax accounts with the American people, and has once again demonstrated his commitment to being open with the American people about the commander’s financial position,” the White House said in a statement. In the latest tax returns, Harris has now released his 18-year tax return.
Maegan Vazquez of CNN contributed to this report.