Tax Table

A tax table is a reference guide that shows the amount of tax owed on a given amount of income. Tax tables are used by taxpayers to calculate their taxes and file their tax returns.

There are two main types of tax tables: federal and state. Federal tax tables are published by the Internal Revenue Service (IRS), and state tax tables are published by individual states.

Federal tax tables are based on the taxpayer's filing status (single, married filing jointly, married filing separately, head of household, or qualifying widow(er)) and the number of dependents claimed. State tax tables are based on the taxpayer's state of residence and filing status.

To use a tax table, the taxpayer must first determine their taxable income. Taxable income is the amount of income that is subject to tax after all deductions and credits have been taken.

Once the taxpayer has determined their taxable income, they can use the tax table to find the amount of tax owed. To do this, the taxpayer must find the row in the tax table that corresponds to their taxable income and the column that corresponds to their filing status. The amount of tax owed is the number in the intersection of the row and column.

Tax tables are updated annually by the IRS and state governments. It is important to use the most up-to-date tax tables when calculating taxes.

Tax tables can be found online at the IRS website and at the websites of individual states. Tax tables can also be found in the IRS Publication 17, Tax Guide for Individuals.

Using a tax table is the easiest way to calculate taxes. However, taxpayers who have complex tax situations may need to use a tax calculator or hire a tax professional to help them calculate their taxes.