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Thursday, April 8, 2010

Nearly half of US households escape fed income tax

ROB THY NEIGHBOR: HALF OF HOUSEHOLDS PAY NO FED INCOME TAX

Recession, new tax credits have nearly half of US households paying no federal income tax

FILE - In this April 5, 2010 file photo, Internal Revenue Service Commissioner Douglas Shulman gestures while speaking at the National Press Club in Washington. Tax Day is a dreaded symbol of civic responsibility for millions of taxpayers, but for nearly half of all U.S. households, it's simply somebody else's problem. About 47 percent of U.S. households will pay no federal income taxes for 2009, either because their incomes were too low or because they qualified for enough credits and deductions to eliminate their tax liability, according to projections by a private research group. (AP Photo/Manuel Balce Ceneta, File)

Stephen Ohlemacher, Associated Press Writer, On Wednesday April 7, 2010, 5:38 pm EDT

WASHINGTON (AP) -- Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it's simply somebody else's problem.

About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization.




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