An anvil is for use with an impact tool. The anvil includes an impact receiving portion having a lug configured to be impacted to rotate the anvil about an axis, a drive portion opposite the impact receiving portion, and a shank extending between the impact receiving portion and the drive portion. The drive portion is configured for coupling to a tool bit. The shank includes a necked portion having a reduced diameter. The necked portion is located adjacent the drive portion and between the impact receiving portion and the drive portion.