Being president comes with a lot of responsibilities, but also privileges. You get to live in the White House, fly on a private jet, enjoy meals by your own personal chefs, and more. But in at least one respect, the president is just the same as any other American citizen. That’s right, we’re talking about taxes.

Is the U.S. president’s income tax-free?

No, the president’s income gets taxed, just like everyone else’s. As an American citizen, the president is required to file a tax return and pay individual income tax.   

Does the president have to disclose their tax return?

The same laws that protect your tax privacy protect the president’s. While they do have to file a tax return with the IRS, they are not legally required to share that information with the public.

Does the U.S. president get a tax refund?

Theoretically, if the president has too much tax money withheld from their paychecks throughout the year, they could end up getting a refund. By the same logic, if too little is withheld, they could end up having to pay the IRS for the remainder. Again, this is the same as with every other U.S. citizen.

What is the president’s salary?

The U.S. president makes about $400,000 a year, but they also have access to money for specific purposes: including an annual expense account of $500,000, a non-taxable travel account of $100,000, and an entertainment account of $19,000. After leaving office, the president receives a pension. While the president’s salary is taxed, not all of the benefits they receive are taxable; it depends on the tax code in each instance.

In short, when the IRS says every U.S. citizen is required to pay taxes, they aren’t kidding. Despite the socio-economic difference, the president and other high-ranking members of society pay taxes just like the rest of us.