Tax Freedom Day 5 days later than last year

Tax Freedom Day 5 days later than last year

April 18 will be Tax Freedom Day, the day when Americans have worked enough to pay all of their federal and state taxes for 2013 – a round total of $4.22 trillion, according to an analysis done by the Tax Foundation.

That’s five days later than in 2012.

Americans will pay more than $2.76 trillion in federal taxes and $1.45 trillion in state taxes for 2013 — for a total of $4.22 trillion in taxes, or 29.4 percent of income. (Figures are rounded.)

April 18 is the 108th day of the year, or 29.4 percent of the calendar year.

According to the foundation, Americans will spend more on taxes than they will on food, housing, and clothing combined in 2013.

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