2007-05-02 05:11:38 · 3 answers · asked by poi 1 in Business & Finance ➔ Taxes ➔ United States
Never, taxes are taken out of every dollar for as long as you earn money. The date(s) published refer to the date when your Year-to Date income equals your annual tax liability, assuming your income is constant throughout the year. There are a number of dates given that change every year. Do you include only Federal taxes, or State as well? Are sales tax and property tax included? What about payroll (SSI) tax? Given the various tax brackets, the larger your income, the later in the year you reach that point. How do you account for deductions? I could argue some EIC recipients reach the "Tax Free" date sometime the prior year. Others may not get there until December.
2007-05-02 12:56:58 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
It was June 16 or 17th last year; at the rate it is going this year it will probably be July 4th (see any irony here?)
2007-05-02 12:18:31 · answer #2 · answered by acmeraven 7 · 0⤊ 1⤋
The 364th, I think...just kidding....let me see if I can find it...will edit post if I do.
2007-05-02 12:18:56 · answer #3 · answered by rrrevils 6 · 0⤊ 1⤋