Federal 2016 income tax ranges from 10% to 39.6%. This page has the latest Federal brackets and tax rates, plus a Federal income tax calculator. Income tax tables and other tax information is sourced from the Federal Internal Revenue Service.
The United States uses a progressive tax system, which means different portions of your income are taxed at different rates. Learn more about this system and how it impacts you in this article about tax brackets.
The rate at which an individual is taxed. Tax brackets are set based on income levels; individuals with lower income levels are taxed at a lower rate than individuals with higher income levels. Tax brackets serve as cutoff points for given income tax rates; therefore, if an individual's annual taxable income exceeds the cutoff point, that person is taxed according to the next tax bracket.
Click here for 2017 Tax Brackets Introduction Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called "bracket creep." This is the phenomenon by which people are pushed into higher income tax brackets or have reduced value from credits or deductions due to inflation, instead of any increase in real income.
Federal 2016 income tax ranges from 10% to 39.6%. This page has the latest Federal brackets and tax rates, plus a Federal income tax calculator. Income tax tables and other tax information is sourced from the Federal Internal Revenue Service.
The United States uses a progressive tax system, which means different portions of your income are taxed at different rates. Learn more about this system and how it impacts you in this article about tax brackets.
The rate at which an individual is taxed. Tax brackets are set based on income levels; individuals with lower income levels are taxed at a lower rate than individuals with higher income levels. Tax brackets serve as cutoff points for given income tax rates; therefore, if an individual's annual taxable income exceeds the cutoff point, that person is taxed according to the next tax bracket.
Click here for 2017 Tax Brackets Introduction Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called "bracket creep." This is the phenomenon by which people are pushed into higher income tax brackets or have reduced value from credits or deductions due to inflation, instead of any increase in real income.
