tax returns

April 15, 2009 -- Today, the President released his 2008 federal income tax returns. He and the First Lady filed their income tax returns jointly and reported an adjusted gross income of $2,656,902. The vast majority of the family’s 2008 income is the proceeds from the sale of the President’s books. The Obamas paid $855,323 in federal income tax.

The President and First Lady also reported donating $172,050 – or about 6.5% of their adjusted gross income – to 37 different charities. The largest reported gifts to charity were $25,000 contributions to CARE and the United Negro College Fund.

The President and First Lady also released their Illinois income tax return and reported paying $77,883 in state income taxes.

Source: White House

April 15, 2009 -- Today, the Vice President and Dr. Jill Biden released their 2008 federal and state income tax returns. He and Dr. Biden filed their income tax returns jointly and reported an adjusted gross income of $269,256 and an after-tax income of $183,315.

The family’s primary sources of income were salaries from the United States Senate, Widener University, Delaware Technical & Community College, as well as royalties from the audio rights to the Vice President’s book. The Bidens paid $46,952 in federal income taxes; $11,164 in Delaware state income taxes; and donated $1,885 to charity.    » read more »