Washington, DC, United States (AHN) – While many Americans battle unemployment and fight to recover from a recession, a new study shows 45 percent of households don’t owe Uncle Sam a penny in federal income tax.
According to the Tax Policy Center, around 69 million Americans don’t owe federal income tax, while millions receive money back from the government after filing in April.
That number is on the rise as tax credits, a challenging economy and other fiscal factors help more Americans pay less. Among Americans who don’t owe any taxes this year, 64 million earn less than $50,000 a year.
This year, Monday — today — is the deadline to file 2011 federal income taxes. By Monday morning, the U.S. Internal Revenue Service (IRS) said it saw almost 101 million electronically-filed tax returns, up 8.8 percent from last year.
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