At least 90% of the benefits of tax breaks for capital gains, charitable deductions and small businesses go to white taxpayers, according to a new Treasury analysis.
The IRS does not know the race of filers so Treasury developed a method of estimating the likely race of the person listed first on a return based on other information. | Patrick Sison/AP PhotoAt least 90 percent of the benefits of tax breaks for capital gains, charitable deductions and small businesses go to white taxpayers, according to a new Treasury analysis.
At the same time, the study found, Hispanic people disproportionately benefit from a trio of refundable credits — the Child Tax Credit, the Earned Income Tax Credit and a subsidy for health insurance. Black families also disproportionately benefit from the EITC..
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