Physicians who were married and filing jointly spent $91,681 on federal taxes and $14,211 on state taxes. About 75 percent of physicians reported feeling overtaxed.
A year prior, the average federal tax bill for physicians was $76,117, while the average state bill was $13,108.
The rise in tax cost could be attributed to several factors, including rising physician incomes and the Inflation Reduction Act of 2022, according to the report.
