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MarketWatch
40% of households will pay no federal income tax this year. Why that’s good news.
In 2021, nearly 56% of households or 99 million households paid no federal income tax, down from 60% or 100 million households in 2020, the nonpartisan think tank’s said in the report. Massive job losses in the pandemic’s early stages sent millions of people to unemployment lines and temporary rules exempted much of 2020 jobless benefits from income taxes, Howard Gleckman, senior fellow at Tax Policy Center, said. The approximate 40% of households projected to pay no federal income tax is back to pre-pandemic levels, and is even slightly smaller than the 42% to 43% range during recent pre-pandemic years, Gleckman noted.
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