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Despite Record Collections, 52,062,499 Filers Paid No Income Taxes in 2014
Cybercast News Service ^ | April 18, 2017 | 12:30 PM EDT | Terence P. Jeffrey

Posted on 04/18/2017 5:43:31 PM PDT by Olog-hai

In tax year 2014, according to a report published by the Internal Revenue Service, the federal government hauled in a then-record $1,377,797,136,000 in individual income taxes.

Nonetheless, of the 148,606,578 individual income tax return filers that year, 52,062,499 (or 35 percent) filed what the IRS calls “nontaxable returns,” which means they paid no net individual income taxes.

Among these 52,062,499 filers who did not pay income taxes in 2014, according to Table 3.3 in the report, were 31,129,405 filers who also received $90,276,007,000 in payments from the federal government for “refundable” tax credits.

“In total, taxpayers claimed $105.6 billion in refundable tax credits,” said the IRS report. “Of this, $5.5 billion was applied against income taxes and $9.8 billion against all other taxes. The remaining $90.3 billion in refundable tax credits was refunded to taxpayers.” …

(Excerpt) Read more at cnsnews.com ...


TOPICS: Government
KEYWORDS: eic; taxfraud; taxrevenue
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1 posted on 04/18/2017 5:43:31 PM PDT by Olog-hai
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To: Olog-hai

Sheesh, now they’re taxing people with record collections!

I have 4000 LPs, and didn’t owe any Federal tax in 2016. Should I be worried?


2 posted on 04/18/2017 5:47:24 PM PDT by proxy_user
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To: proxy_user

Ha! You have LPs which they’re after but I have my stash of 8-tracks which they’ll never get their hands on.


3 posted on 04/18/2017 5:54:16 PM PDT by BipolarBob (Beware of strong drink. It may cause you to shoot at tax collectors . . . and miss.)
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To: Olog-hai

obama is gone but the income tax remains to suck America down the rathole


4 posted on 04/18/2017 5:55:42 PM PDT by faithhopecharity ("Politicans are not born, they're excreted." -- Marcus Tillius Cicero)
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To: Olog-hai

Sadly, I was not one of the 52 million.


5 posted on 04/18/2017 5:56:17 PM PDT by Pearls Before Swine
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To: Olog-hai

“In total, taxpayers claimed $105.6 billion in refundable tax credits,” said the IRS report. “Of this, $5.5 billion was applied against income taxes and $9.8 billion against all other taxes. The remaining $90.3 billion in refundable tax credits was refunded to taxpayers.” …


Do we call it welfare or economic stimulus?


6 posted on 04/18/2017 5:56:39 PM PDT by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: Olog-hai

Wasn’t the percentage of households not paying tax 47% in 2012?


7 posted on 04/18/2017 5:59:46 PM PDT by oincobx
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To: Pearls Before Swine

Lucky for me I am one of them. Kind of makes up for the over 40 years I did pay taxes.

However, what is worse than not paying taxes is getting taxpayer money, from the article: “2014 was a negative $12,003,000,000” That’s $12 Billion in wealth distribution.


8 posted on 04/18/2017 6:02:07 PM PDT by where's_the_Outrage? (Trump the anti politician. About time!)
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To: where's_the_Outrage?

should be redistribution.


9 posted on 04/18/2017 6:02:52 PM PDT by where's_the_Outrage? (Trump the anti politician. About time!)
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To: Olog-hai
Nonetheless, of the 148,606,578 individual income tax return filers that year, 52,062,499 (or 35 percent) filed what the IRS calls “nontaxable returns,” which means they paid no net individual income taxes.

I want these 52 million nontaxable returns published! What are they hiding from the public? Let's organize protest marches and vandalize property and terrorize motorists until those 52 million returns are published! They are thieves taking perks paid for by me. I want names and I want them to pay a fair share, or at least some money. Not fair!

10 posted on 04/18/2017 6:04:15 PM PDT by roadcat
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To: Olog-hai

Needs a BARF alert


11 posted on 04/18/2017 6:10:04 PM PDT by Third Person (Without double standards the left would have no standards at all.)
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To: Pearls Before Swine

Me neither, but I was for most of my life. Despite making it to the top 10%, I’ve rarely paid any federal income tax, and I’m totally fine with that. At one point, my W4 listed 42 exemptions by the standard formula.

Of course the truly rich pay no income tax, as they have no earned income, but most of the country is too educated to figure that out...


12 posted on 04/18/2017 6:11:04 PM PDT by antidisestablishment ( We few, we happy few, we basket of deplorables)
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To: antidisestablishment

42?

The number of the universe?


13 posted on 04/18/2017 6:12:46 PM PDT by combat_boots (God bless Israel and all who protect and defend her! And please, God, bless the USA again.)
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To: antidisestablishment
Of course the truly rich pay no income tax, as they have no earned income...

If you have investment returns, you pay tax, although the IRS doesn't call it earned income.

14 posted on 04/18/2017 6:13:35 PM PDT by Pearls Before Swine
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To: Olog-hai

And, of course, 99.9999999999999999999999% of them voted dimbulbcrat.


15 posted on 04/18/2017 6:13:49 PM PDT by Da Coyote
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To: combat_boots

Do you mean The Answer to the Ultimate Question of Life, the Universe, and Everything?


16 posted on 04/18/2017 6:18:06 PM PDT by Yogafist
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To: proxy_user

Obviously!!!!

“:^)

Won’t be for cause, but what the hey...


17 posted on 04/18/2017 6:19:13 PM PDT by DoughtyOne (Happy days are here again!)
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To: Olog-hai

52 million deadbeats not paying their fair share. Primarily the base of the democrat party, I’m sure.


18 posted on 04/18/2017 6:20:12 PM PDT by meyer (The Constitution says what it says, and it doesn't say what it doesn't say.)
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To: Pearls Before Swine

But income tax, like minimum wage, is the constant mantra of the left. As far as I can tell, anyone who pays too much in taxes is a fool, a liar or a Democrat. Sorry for the redundancy. ;)


19 posted on 04/18/2017 6:34:17 PM PDT by antidisestablishment ( We few, we happy few, we basket of deplorables)
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To: Olog-hai

If one has a Record Collection, one has to pay taxes?


20 posted on 04/18/2017 6:36:20 PM PDT by Paladin2
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