How Dependents Affect Federal Income Taxes

Congressional Budget Office

No 56004, Reports from Congressional Budget Office

Abstract: Several provisions of the federal individual income tax code reduce the tax liability of people who have dependents. In this report, CBO examines the tax benefit of having dependents and the distribution of that benefit under current law in 2019 and in 2026. The average tax benefit of having dependents in 2019 is estimated to be $2,300 per dependent ($3,800 per family). Under the 2026 tax rules, that benefit would be $1,700 per dependent ($2,800 per family).

JEL-codes: H20 H24 H50 (search for similar items in EconPapers)
Date: 2020-01-23
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