You are in: Home > Taxes

Free Federal Tax USA 2010 and Federal Tax Refund USA Online

21st January 2011
By denialnichol in Taxes
RSS Legal RSS    Views: N/A

Federal taxes refer to the offerings to be paid by individuals as compulsory by the government; these offerings are from those who are employed. The fee of federal taxes takes place every year. The amount to be paid by an individual is determined through his or her income and each person is necessary to accomplish a federal tax form 2010 for the purpose of the amount, principally. The revenues collected are the funds used by the government to maintain and initiate national activities and projects like those under the military defense and some other government agencies and institutions. There are current legal tax codes which governs how the tax payers could determine if they really have to pay federal taxes. Individuals could either collect a refund or break even. Aside from individual federal tax payers, business entities are also required to do so. Meanwhile, state taxes are frequently filed and paid on the same stage of federal taxes. If you want to file your federal tax 1040ez then e filing is the best way.

Tax Brackets
In the United States, the dollar amounts of the Federal income tax standard deduction and personal exemptions for the taxpayer and dependents are adjusted annually to account for inflation. This results in yearly changes to the personal income tax brackets even when the Federal income tax rates remain unchanged.
For 2009, the standard deduction is $5,700 for single individuals and married individuals filing separately (up $250 from 2008), $8,350 for heads of household (up $350), and $11,400 for married couples filing a joint return (up $500). The dollar amount of each personal and dependency exemption is $3,650 (up $150 from 2008).[1] Nearly two out of three taxpayers take the standard deduction, rather than itemizing deductions, such as mortgage interest, charitable contributions and state and local taxes.
2011 Tax Rates & Tax Brackets
Tax Rate Single
10% Up to $8,500
15% $8,501 $34,500
25% $34,501 $83,600
28% $83,601 $174,400
33% $174,401 $379,150

35% over $379,150
This article is copyright
Bookmark and Share

Ask a Question about this Article

powered by Yedda