More than 100 million U.S. households, or 61% of all taxpayers, paid no federal income taxes last year, according to a new report.
More than 100 million U.S. households, or 61% of all taxpayers, paid no federal income taxes last year, according to a report from the Tax Policy Center.
The main reasons for the spike — high unemployment, large stimulus checks and generous tax credit programs — will largely expire after 2022.More than 100 million U.S. households, or 61% of all taxpayers, paid no federal income taxes last year, according toThe pandemic and federal stimulus led to a huge spike in the number of Americans who either owed no federal income tax or received tax credits from the government.
Gleckman said the main reasons for the spike — high unemployment, large stimulus checks and generous tax credit programs — will largely expire after 2022, so the share of nontaxpayers will fall again starting next year.
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