When using a tax table to determine the amount of taxes that you owe the IRS, first note your filing status as single, married filing jointly or separately, or head of household, says TurboTax. Then, note your taxable income and determine your income range by referring to the appropriate row in the left-hand column; for example, $38,785 falls under $38,750 to $38,800. Lastly, find your taxes payable at the intersection of that row and the column containing your status.Continue Reading
You can find the IRS's tax tables along with tax return instructions in IRS Publication 17, notes TurboTax. The company also provides a free tax calculator online, which you can use to calculate your tax payment or tax refund automatically as well as to determine your taxable income using information about your income, deductions, credits and installment payments, or payroll taxes.
You can also access tax rates and corresponding income brackets online from as far back as 2007 at efile.com, as of August 2015. Use these rates to understand your marginal tax rate by determining which bracket your total taxable income falls under; that bracket's tax rate is the percent you pay in tax on any additional earnings. You can also use this to understand the effects of finding additional tax deductions, including eligible charitable contributions and mortgage interest payments, according to IRS Refund Schedule. You may also be subject to different tax rates on select income sources, such as 20 percent on capital gains.Learn more about Taxes