Over 50% of all households paid NO federal tax for 2009

Over 50% of all US households paid NO federal tax for the tax period of 2009.  Even more impressive than that is that almost 30% of all households got a check back for MORE than all of their income taxes they paid in.  This is due to the refundable credits such as Earned Income Tax Credit and The First Time Home Buyer Tax Credit.  Some explain these dramatic figures are due to the recession hitting in 2009 and increasing the amount of low income individuals filing tax return for that period, but the figure is still staggering!


Posted: July 27, 2011

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