Here's some background to help combat the fools on the comments.....
Recession, new tax credits have nearly half of US households paying no federal income tax
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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1 comment:
We are part of that 47% because we have so many medical and other deductions that we haven't had to pay income taxes for several years. Now when we make charitable donations, we don't even bother getting paperwork as proof because we've already covered our tax liability (save the organizations the time and paper! LOL).
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