Who are these 50%

[steaver]

I keep hearing these pundants on the news saying that something like 50% of working Americans dont pay any Federal tax. My son worked a part time job last year as a short order cook and grossed 13,000$. He just got his taxes done and he had to pay about 700$ in Fed tax. Am I to believe that 50% of the working class is making far less than 13000$ per year that they find themselves untaxed?

 

[Salty]

I did a quick check on form 1040 E-Z. At $13,000; your sons taxes should have only been $353, unless you claimed him on your tax return. You may want to check this out and you could always file a form 1040 X

On the 1040 E-Z you pay no tax on the first $9,500 you make.

As far as some who don't pay, it is because they may have several children ( = additional tax deductions) and they may also qualify for the EIC - which may actually give you a negative tax - ie receive back more than you paid in.

 

[carpro]

I keep hearing these pundants on the news saying that something like 50% of working Americans dont pay any Federal tax. My son worked a part time job last year as a short order cook and grossed 13,000$. He just got his taxes done and he had to pay about 700$ in Fed tax. Am I to believe that 50% of the working class is making far less than 13000$ per year that they find themselves untaxed?

No.

But he isn't paid welfare by the IRS yet. He doesn't have any kids.

A family of four can make about $ 40,000 a year before they pay a penny in income tax.

 

[freeatlast]

I keep hearing these pundants on the news saying that something like 50% of working Americans dont pay any Federal tax. My son worked a part time job last year as a short order cook and grossed 13,000$. He just got his taxes done and he had to pay about 700$ in Fed tax. Am I to believe that 50% of the working class is making far less than 13000$ per year that they find themselves untaxed?

Here is some information on this.
http://www.forbes.com/sites/beltway/2011/07/27/why-do-some-people-pay-no-federal-income-tax/

 

[steaver]

I did a quick check on form 1040 E-Z. At $13,000; your sons taxes should have only been $353,.

I don't know. I saw his W2 and he grossed 13000, paid in 1600 and got back 900 (all numbers rounded off) . He had it looked at by two different tax offices because he thought it was wrong. I thought he would have gotten it all back according to the rhetoric on TV. That's why I was wondering just who these 50% are.

No, I don't claim him, he is an adult and does not live with me.

 

[steaver]

No.

But he isn't paid welfare by the IRS yet. He doesn't have any kids.

A family of four can make about $ 40,000 a year before they pay a penny in income tax.

Maybe this is why the DNC is pro-abortion, too much of their tax collections are going out to babies.

 

[InTheLight]

I don't know. I saw his W2 and he grossed 13000, paid in 1600 and got back 900 (all numbers rounded off) . He had it looked at by two different tax offices because he thought it was wrong.

http://www.irs.gov/pub/irs-prior/p15--2011.pdf
Page 38

If your son makes about $250 a week and claims 1, he should have about $14 a week withheld which would be $728 a year.

 

[Salty]

According to Form 1040 E-Z instructions:

Income........13,000
single exemp 9,500
_______

Taxable amt 3,500

Tax table pg (pg 30).........353.00

unless I am missing something?

 

[Don]

Well, did the first draft of my taxes last night, and I'm apparently NOT one of the 50%. . . .

 

[FR7 Baptist]

I paid federal income taxes for 2010, but not 2011, even though I made a good bit more money in 2011. However, my tax lady told me that because I now have a full-time job as a customer service manager which pays a living salary, I will pay federal income taxes for 2012.

 

[steaver]

According to Form 1040 E-Z instructions:

Income........13,000
single exemp 9,500
_______

Taxable amt 3,500

Tax table pg (pg 30).........353.00

unless I am missing something?

Sorry, your right, it was 1300 withheld not 1600. I had too many numbers swimming around in my head lately, Lol.

 

[Don]

I paid federal income taxes for 2010, but not 2011, even though I made a good bit more money in 2011. However, my tax lady told me that because I now have a full-time job as a customer service manager which pays a living salary, I will pay federal income taxes for 2012.

Okay - how did you make more money in 2011, but not have to pay federal taxes?

 

[just-want-peace]

Okay - how did you make more money in 2011, but not have to pay federal taxes?

Just one more example of the screwed-up tax system we have. Interestingly, another "tax preparer" may have come up with a payment due for '11.

 

[FR7 Baptist]

Okay - how did you make more money in 2011, but not have to pay federal taxes?

In 2010, I was a full-time student and a dependent under IRS regulations; in 2011 I was not.