Federal Income tax Calculator

Above is a sample tax bracket for U.S. federal income tax for the year 2006. Tax brackets are widely available on the internet; sites such as IRS.gov and About.com are good places to look. Keep in mind that tax brackets are adjusted each year for inflation, and that tax laws change all the time. Also, your tax bracket depends on your filing status. The data from the tax bracket is easily inserted into the calculator on the next spreadsheet page. The picture above simply serves as an example!U.S. Federal Income Tax Calculator Enter data in white spaces only. 2006 Income is Greater But Less Than …Of the Amount Accumulated Than or Equal To: or Equal to: Tax Rate Over: Tax $0 $15,100 10% $15,101 $61,300 15% $15,100 $1,510 $61,301 $123,700 25% $61,300 $8,440 $123,701 $188,450 28% $123,700 $24,040 $188,451 $336,550 33% $188,450 $42,170 $336,551 35% $336,550 $91,043 Taxable Income: $37,000 Tax Rate: 15% Accumulated Tax: $1,510 Additional Tax: $3,285 Total Tax: $4,795