What are IRS Form 1040-EZ tax tables?


Quick Answer

IRS Form 1040-EZ tax tables are tables that show the tax brackets and amounts due for federal taxpayers filing the 1040-EZ form, the IRS notes. Tax tables change year to year due to tax legislation changes and inflation rates, Forbes indicates.

Continue Reading

Full Answer

Tax tables are used to calculate the income tax owed based on taxable income, which is calculated by subtracting qualifying deductions from a taxpayer's gross income, Forbes explains. The Form 1040-EZ tax tables provide the tax due amount for each of the filing statuses: single, married filing jointly, married filing separately and head of household. Instead of calculating the tax based on percentage, a tax table shows the exact amount of tax due.

Learn more about Taxes

Related Questions