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Many lower- and middle-earning households may pay nothing in income taxes this year

Source: cnbc.com - Apr 28, 2021

A large swath of American households may pay nothing in income taxes for 2021, a new congressional report suggests.

Taxpayers with income of less than $75,000 are projected to have, on average, no tax liability after deductions and credits when they file their 2021 returns next spring. They will also will get money back from the IRS, according to recent estimates from the nonpartisan Joint Committee on Taxation.

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Category: General Business