47% Americans to escape income tax payment for 2009

47% Americans to escape income tax payment for 2009A very interesting projection published by a Washington-based research organization the Tax Policy Center suggested on Wednesday that for the year 2009 close to 47 per cent of the Americans will not pay any tax as their incomes were too low to fall in the tax bracket or they qualify enough under different deductions and exemptions that the do not need to pay tax.

However, this is true that majority of the people who manage to dodge payment of income tax in such manner get stuck under various other norms like federal payroll taxes for social security and medicare or excise charges on many usable like gas, alcohol aviation etc.

The revenue generated from the federal income tax receipts stands as the government's single largest source of revenue. But, the list of Americans escaping the same seems to be increasing at an alarming rate.

As per the Tax Policy Center, while 38 per cent of the US households escaped income tax payment, the figure jumped to 49 per cent in 2008.

April 15 is the deadline for payment of tax for year 2009.