What is the federal income tax table?
The purpose of a federal income tax bracket is to determine what a taxpayer's income tax rate is, adds Investopedia. As of the 2014 tax year, there are seven tax rates, which correspond to different levels of income depending on the taxpayer's filing status. The taxpayer can file as single, married filing jointly or separately, a widow/widower with a dependent child, or as the head of household.
What are the income tax rates for federal tax brackets?
Federal tax rates range from 10 percent to 39.6 percent for the 2015 tax year, depending on one's tax bracket, notes efile.com. The corresponding tax brackets depend on one's marital status: single, married filing separately, married
filing jointly, widow or head of household.
Where can you find the income tax brackets for 2014?
Income tax brackets for the 2014 tax year can be found on several different online tax preparation websites including efile.com. Income tax brackets for the year can also be found on the IRS official website in PDF form.
What are the different income tax brackets?
As of 2015, there are seven tax brackets in the United States based on applicable tax rate percentages: 10, 15, 25, 28, 33, 35, and 39.6, states Bankrate. The rate of tax at the federal level is graduated, meaning those with a higher income have a higher tax rate than those with a lower income.
What are the federal tax brackets?