20,0000 the cutoff the government will start taxing your income?

Is less than that, ur tax free. I mean cmon ppl who make minimum shouldn't have to pay tax.

Answer:
Single:
Personal Exemption:3200
Standard Deduction:5000
Non-Taxable Amount:8200
10% Bracket: 7,550
Tax on 20,000: 1392.5
% of 20,000: 6.96%

Married:
Personal Exemption:6400
Standard Deduction:10000
Non-Taxable Amount:16400
Add 6400 Personal Exemption for Each child.
10% Bracket: 15,100
Tax on 20,000:360
% of 20,00: 1.8%

Even without any itemized deductions or credits, they don't pay much.
i dont agree. everyone should pay taxes. what pizzes me is the way the govt wastes OUR money.
People who make minimum pay a very tiny amount of taxes. In fact up to $40,000 the final amount of tax is very small.
With an income of $20,000, you might owe some tax but not a lot to the feds. If you have a child, the Earned Income Credit might give you more back than you pay.
20,0000? Maybe we should just tax people who can't spell, type, formulate complete sentences, or understand the basic concepts of grammar.

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