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Understanding the Federal Income Tax Tables

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Federal Income tax tables accompany Federal tax brackets. Each state has their own individual federal tax table; however there is a general federal income tax table that allows for people to make an educated guess on how much their tax will work out being.This federal income tax table helps guide an individual to determine which tax bracket he or she will fall under as well as if there are any circumstances or stipulations that may change the outcome.Federal tax tables are typically used by employers to determine how much to withhold from an employee. With that being said, it is advisable for employees to know and understand about how much money will be taken from each pay check by the federal government.Using a state’s federal tax table along with the directions of how to properly withhold from an employee, an employer may be able to properly code a person for their taxes allowing the employee to not owe the federal government or the federal governments owe them and money at the end of the year.Items that can alter the outcome of a federal tax table is what type of payment plan a person is on (biweekly, monthly, weekly), if there is a flat tax rate,a supplemental flat tax rate, or a bonus flat tax rate, and whether or not a person receives any social security or benefits.
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  • Federal Income Tax Tables

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    Federal Income tax tables accompany Federal tax brackets. Each state has their own individual federal tax table; however there is a general federal income tax table that allows for people to make an educated guess on how much their tax will work out being.

    This federal income tax table helps guide an individual to determine which tax bracket he or she will fall under as well as if there are any circumstances or stipulations that may change the outcome.

    Federal tax tables are typically used by employers to determine how much to withhold from an employee. With that being said, it is advisable for employees to know and understand about how much money will be taken from each pay check by the federal government.

    Using a state’s federal tax table along with the directions of how to properly withhold from an employee, an employer may be able to properly code a person for their taxes allowing the employee to not owe the federal government or the federal governments owe them and money at the end of the year.

    Items that can alter the outcome of a federal tax table is what type of payment plan a person is on (biweekly, monthly, weekly), if there is a flat tax rate, a supplemental flat tax rate, or a bonus flat tax rate, and whether or not a person receives any social security or benefits.

    NEXT: What You Must Know About Federal Tax Brackets

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