You may have already sent off your 2014 paperwork to the IRS, enclosed a check or requested a refund, and crossed taxes off your to-do list for the year. But you’re not done yet.
You’ll still have to work until April 24 to earn enough money, on average, to pay what you owe Uncle Sam this year. That’s another day longer than last year, according to the Tax Foundation, a tax-policy research group that calculates what it calls “Tax Freedom Day” annually.
This year, the group estimates that Americans will pay $4.8 trillion on federal, state and local taxes — or about 31% of the nation’s income. Taxpayers will spend more on taxes this year than on food, clothing and housing combined, it says.
But individual tax burdens can vary widely, depending on how much you make and where you live.
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