35% pay no income tax

- In tax year 2014, according to a report published by the Internal Revenu e Service, the federal government hauled in a then-record $1,377,797,136,00 0 in individual income taxes.
Nonetheless, of the 148,606,578 individual income tax return filers that ye ar, 52,062,499 (or 35 percent) filed what the IRS calls “nontaxable returns,” which means they paid no net individual income taxes.
Among these 52,062,499 filers who did not pay income taxes in 2014, according to Table 3.3 in the report, were 31,129,405 filers who also received $90,276,007,000 in payments from the federal government for “refundable” tax credits.
“In total, taxpayers claimed $105.6 billion in refundable tax credi ts,” said the IRS report. “Of this, $5.5 billion was applie d against income taxes and $9.8 billion against all other taxes. The remain ing $90.3 billion in refundable tax credits was refunded to taxpayers.? ??
"Tax credits are used to offset taxes," the report explains. "Certain tax c redits are also refundable in that if the credit exceeds the total tax owed , the excess can be refunded to the taxpayer."
One example of a refundable tax credit is the “Earned Income Tax Cr edit.” “The Earned Income Tax Credit for 2014,” the IRS explains, “was a maximum of $496 for taxpayers with no qualify ing children, $3,305 for one qualifying child, $5,460 for two qualifying ch ildren, and $6,143 for taxpayers with three or more qualifying children.? ??
For a married couple filing jointly to be eligible for the EIC in 2014, sai d the IRS, “earned income and adjusted gross income had to be less than $43,941 for one child, $49,186 for two children and $52,427 for three children or more.”
A married couple with two children earning $50,000 or more would not qualif y for this refundable credit.
Another refundable credit available in 2014 was for health insurance premiu ms under Obamacare. “Beginning in 2014,” said the IRS, ? ??a taxpayer may have been eligible for the premium tax credit if they, their spouse, or a dependent enrolled in health insurance through the Heal th Insurance Marketplace.”
The effect of “refundable” tax credits, according to the da ta published by the IRS in Figure F of its report, is that the entire class of tax filers earning under $30,000 in 2014 collectively paid a net negati ve in federal income taxes. For example, according to the report, the ? ??total income tax minus refundable credits” paid by the 18,881 ,000 tax filers earning between $20,000 and $30,000 in 2014 was a negative $12,003,000,000.
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- In tax year 2014, according to a report published by the Internal Revenue Service, the federal government hauled in a then-record $1,377,797,136,000 in individual income taxes.
Nonetheless, of the 148,606,578 individual income tax return filers that year, 52,062,499 (or 35 percent) filed what the IRS calls "nontaxable returns," which means they paid no net individual income taxes.
Among these 52,062,499 filers who did not pay income taxes in 2014, according to Table 3.3 in the report, were 31,129,405 filers who also received $90,276,007,000 in payments from the federal government for "refundable" tax credits.
"In total, taxpayers claimed $105.6 billion in refundable tax credits," said the IRS report. "Of this, $5.5 billion was applied against income taxes and $9.8 billion against all other taxes. The remaining $90.3 billion in refundable tax credits was refunded to taxpayers."
"Tax credits are used to offset taxes," the report explains. "Certain tax credits are also refundable in that if the credit exceeds the total tax owed, the excess can be refunded to the taxpayer."
One example of a refundable tax credit is the "Earned Income Tax Credit." "The Earned Income Tax Credit for 2014," the IRS explains, "was a maximum of $496 for taxpayers with no qualifying children, $3,305 for one qualifying child, $5,460 for two qualifying children, and $6,143 for taxpayers with three or more qualifying children."
For a married couple filing jointly to be eligible for the EIC in 2014, said the IRS, "earned income and adjusted gross income had to be less than $43,941 for one child, $49,186 for two children and $52,427 for three children or more."
A married couple with two children earning $50,000 or more would not qualify for this refundable credit.
Another refundable credit available in 2014 was for health insurance premiums under Obamacare. "Beginning in 2014," said the IRS, "a taxpayer may have been eligible for the premium tax credit if they, their spouse, or a dependent enrolled in health insurance through the Health Insurance Marketplace."
The effect of "refundable" tax credits, according to the data published by the IRS in Figure F of its report, is that the entire class of tax filers earning under $30,000 in 2014 collectively paid a net negative in federal income taxes. For example, according to the report, the "total income tax minus refundable credits" paid by the 18,881,000 tax filers earning between $20,000 and $30,000 in 2014 was a negative $12,003,000,000.
That 35% is for people who filed tax returns.
There are tens of millions more who don't file tax returns.
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On Tuesday, April 18, 2017 at 4:23:06 PM UTC-4, burfordTjustice wrote:

ue Service, the federal government hauled in a then-record $1,377,797,136,0 00 in individual income taxes.

year, 52,062,499 (or 35 percent) filed what the IRS calls “nontaxab le returns,” which means they paid no net individual income taxes.

dits,” said the IRS report. “Of this, $5.5 billion was appl ied against income taxes and $9.8 billion against all other taxes. The rema ining $90.3 billion in refundable tax credits was refunded to taxpayers.? ??

credits are also refundable in that if the credit exceeds the total tax ow ed, the excess can be refunded to the taxpayer."

Credit.” “The Earned Income Tax Credit for 2014,” t he IRS explains, “was a maximum of $496 for taxpayers with no quali fying children, $3,305 for one qualifying child, $5,460 for two qualifying children, and $6,143 for taxpayers with three or more qualifying children. ”

aid the IRS, “earned income and adjusted gross income had to be les s than $43,941 for one child, $49,186 for two children and $52,427 for thre e children or more.”

ify for this refundable credit.

iums under Obamacare. “Beginning in 2014,” said the IRS, “a taxpayer may have been eligible for the premium tax credit if th ey, their spouse, or a dependent enrolled in health insurance through the H ealth Insurance Marketplace.”

data published by the IRS in Figure F of its report, is that the entire cla ss of tax filers earning under $30,000 in 2014 collectively paid a net nega tive in federal income taxes. For example, according to the report, the ? ??total income tax minus refundable credits” paid by the 18,881 ,000 tax filers earning between $20,000 and $30,000 in 2014 was a negative $12,003,000,000.
I suppose you're going to get on my elderly mother's case because she pays no income tax.
Cindy Hamilton
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On 4/19/2017 6:56 AM, Cindy Hamilton wrote:

Another useless member of society. So is my wife who has not paid taxes for the past 50 years but still collect social security. A burden on the rest of us.
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On 4/18/17 1:23 PM, burfordTjustice wrote:

ain't that just the cutest cherry picked numbers
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When the income tax was introduced the DemocRATs sold it to the American people as a nuisance tax for the very rich and promised that it would never affect working people.
What happened?
(The DemocRATs also promised us that the Social Security Number would *never* become a national ID number.)
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On Wed, 19 Apr 2017 23:11:35 -0000 (UTC), Roger Blake

Government always grows to consume all it takes in revenue and all it can borrow, buying votes from the lazy.
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On 19-Apr-2017, snipped-for-privacy@aol.com wrote:

+1000 on that. That is why I am against any tax reform, increase, decrease (it won't happen). Taxes are like termites; they keep feeding on more and more and only leave signs of damage.
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On 04/18/2017 04:23 PM, burfordTjustice wrote:

If you get a job and work, the government will punish you with taxes.
If you are a lazy democrat, they'll reward you with a welfare check.
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Tue, 18 Apr 2017 20:23:08 GMT in alt.home.repair, wrote:

I fail to see the reason why you, specifically, even care. You don't reside in this country anymore. And, it's highly unlikely you paid taxes in the first place. That would require a job that has a taxable income.
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On 27/04/2017 03:57, Diesel claimed ...

How can you _possibly_ know that?
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David B.

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