Federal tax how much

Download Data. Print this page Download Data Subscribe Support our work. Launch TaxEDU. Was this page helpful to you? Thank You! Let us know how we can better serve you! Give Us Feedback. Share Tweet Share Email. About the Author. Follow Erica York. As your income moves up the ladder, your taxes will increase:. You can lower your income into another tax bracket by using tax deductions such as charitable donations or deducting property taxes and the mortgage interest paid on a home loan and property taxes.

Deductions can lower how much of your income is ultimately taxed. Tax credits, such as the earned income tax credit , or child tax credit , can also put you into a lower tax bracket. They allow for a dollar-for-dollar reduction on the amount of taxes you owe. Depending on your financial situation, you can use both tax deductions and credits to lower the amount you pay Uncle Sam each year. Ellen Chang is a freelance journalist who is based in Houston and writes articles for U.

Chang previously covered investing, retirement and personal finance for TheStreet. She focuses her articles on stocks, personal finance, energy and cybersecurity. She is a proud graduate of Purdue University and a lover of random acts of kindness, volunteering and cats and dogs.

Follow her on Twitter at ellenychang and Instagram at ellenyinchang. Check out more of her work at kemberley. Select Region. United States. United Kingdom. Ellen Chang, Kemberley Washington. Contributor, Forbes Advisor Staff. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Featured Partner. Learn More On intuit's Secure Website. Compare the best tax software of See our picks.

Where is My Refund? Why eFile? Important Note: Calculate your personal tax rates and brackets for the current Tax Year now. The tax return due date is on April 18, Below are the tax rates and brackets for the current year as well as previous tax years or back taxes. See Federal income tax brackets by tax year. When someone asks what tax bracket you fall into, they generally want to know your "marginal tax rate. Income is actually taxed at different rates; here's how it works:.

This pattern continues as your income grows, adding the taxable amount within each bracket to the next highest threshold. If you added the taxes that you pay on each portion of your income and divide it by your total income then multiply by , you would get your "effective tax rate. When you prepare your tax return online with eFile.

See more benefits of using eFile. For a more detailed estimate of your taxes, use the free income tax estimator and tax calculator.