debtconsolidationconnection.com
501 (c)(3) non-profit Organization
Free Consultation
Consumer credit counseling may help those who actually have to pay taxes
By Sam Craine on Apr 10th, 2010
Tax-filing time can be a bane or boon for many consumers, depending on whether they owe taxes or will get a return.
However, a recent report from the Tax Policy Research Center shows many Americans may not have to worry about giving Uncle Sam his due, as 46.8 percent of consumers will not have to pay income taxes this year.
A number of reasons may factor in to why consumers do not owe money to the government. For example, some people may have not made enough money to be required to file a return. Others may be getting enough back in the form of tax credits instituted by the Obama administration.
Some of those credits include $8,000 for first-time homebuyers or incentives for purchasing a new, environmentally friendly vehicle. The government also expanded the Earned Income Tax Credit, which may provide savings for lower-income families.
Although almost half the country will escape the taxman this year, other citizens will have to bear the burden of keeping the government running. People who find they are having trouble paying their taxes, or making ends meet in general, may consider consumer credit counseling, which can recommend more frugal ways of living.
More Consumer Credit Counseling News
