How To Calculate Federal Income Tax?

Determine your filing status

Find your gross income

Subtract above-the-line deductions to get adjusted gross income

Subtract the standard deduction or itemized deductions to get taxable income

Apply the federal tax brackets for your filing status to your taxable income

Calculate tax owed in each bracket and add the amounts together

Subtract any tax credits

Subtract federal tax withholding and estimated tax payments

Compare the result to see whether you owe more or get a refund

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