Of the various charitable donations, the largest amount was $ 5,000, which was given to the Bo Biden Foundation. The charity, named after the president’s late son, aims to protect children from abuse. Other organizations donated by the couple include the Tragedy for Survivors Aid Program, a support group for bereaved military families, and St. Joseph in Brandywine, a Catholic church attended by Bidens in Wilmington, Delaware. This year, Biden earned $ 62,000 from two S companies, CelticCapri Corp. and Giacoppa Corp. According to a White House official, this amount represents royalties from their previous publications, which are obtained through the companies created for their speech and writing. Biden’s previous joint tax return from 2020 showed that they reported a federally adjusted gross income of $ 607,336 and owed $ 157,414 in federal income tax. Biden saw a significant drop in income in 2020 – when Biden ran for president, he left his position at the University of Pennsylvania and participated in fewer speeches. In 2019, Biden reported adjusted gross income of approximately $ 985,000. Publication of tax returns on Friday comes three days before the official deadline for filing tax returns Monday in the United States. Returns of Vice President Kamala Harris and Second Gentleman Doug Emhoff show that they earned more than $ 1.6 million in 2021. They paid $ 523,371 in federal income tax with a real federal income tax of 31.6%. Together they donated $ 22,100 to charity in 2021, or about 1.3% of their income. In particular, they contributed $ 5,000 in cash to three of their alma maters in 2021: the CSUN (California State University, Northridge) Arts and Communications Fund, Howard University, and the University of Southern California. The adjusted gross income of the second pair is about the same level as the 2020 yield, when they reported $ 1,695,225 in AGIs and owed $ 621,893 in taxes. Announcing their return, the Biden administration has restored a practice dating back to President Richard Nixon that was halted while Donald Trump was in power. Trump has refused to release his tax returns, repeatedly claiming he was in control. According to the IRS, every president and vice president is guaranteed audits every year since the Watergate era. “The president has shared tax returns with the American public for a total of 24 years, reaffirming his commitment to being transparent with the American people about the governor’s finances,” the White House said in a statement accompanying the release. from the latest tax returns, adding that Harris has now published 18 years since her tax returns. CNN’s Maegan Vazquez contributed to this report.
