- The Urban-Brookings Tax Policy Center estimates that nearly 76 million Americans won’t owe federal income tax on tax day 2020.
- Some Americans don’t owe taxes on their income because it is too low; the deductions and credits available to them wipe out their tax liability.
- If you’re under age 65 and earn less than the standard deduction — $12,200 for singles, $18,350 for single parents, and $24,400 for joint filers — you likely won’t have to file a federal tax return for 2019, unless you want to claim refundable credits.
- If you made more than the standard deduction for read more >>>
Source:: BusinessInsider.Com
