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Income Tax

Obama's tax return by the numbers; he made less than last year

Obama's tax return by the numbers; he made less than last year

The White House has released President Obama's 2014 federal income tax returns, which show a dip in his earnings. The Obamas reported their lowest income in years, according to the documents made public Friday. The president and First Lady Michelle Obama filed their income tax returns jointly. Here's what the pair's tax information looked like. $477,383 -- The Obamas' adjusted gross income. $93,362 --  Amount the couple paid in federal taxes. $20,641 -- The Obamas' tax refund. $22,640 -- The Obamas' state income tax, paid to Illinois. 19.6% -- The president’s effective federal income tax...

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