Tax Schedule
 |
Definition of 'Tax Schedule'A rate sheet used by individual taxpayers to determine their estimated taxes due. There are four main schedules used, based on the filing status of the individual:Schedule X - single Schedule Y-1 - married filing jointly, qualifying widow(er) Schedule Y-2 - married filing separately Schedule Z - head of household The term is also used to describe the various addendum sheets to IRS Form 1040, which include schedules A (itemized deductions), B (dividend & interest income), C (business profit or loss) and D (capital gains). Also known as a "rate schedule" or "tax rate schedule". |
 |
Investopedia explains 'Tax Schedule'The main tax schedules have income breakpoints clearly stated, and show which tax rates apply both above and beneath these breakpoints. These schedules will change each tax year, and may have different income ranges than those mentioned on state or municipality tax forms.Investors can find all federal tax schedules on the IRS website, www.irs.gov. |
Related Definitions
Articles Of Interest
-
How IRA Contributions Affect Your Taxes
Learn how to work with the tax man to avoid getting gouged when you convert your plans. -
Tax Tips For The Individual Investor
We give you seven guidelines to help you keep more of your money in your pocket. -
Tablets To 1040s: How Taxes Began
Ever dream of a world without tax? It existed - 3,000 years ago. -
10 Money-Saving Year-End Tax Tips
Getting organized well before the deadline will curb your frustration and your tax liability. -
10 Steps To Tax Preparation
Follow these simple steps to get you ready for April 15. -
Has Income Tax Become A Class Tax On The Poor?
With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate ... -
Possible Effects Of The Online Retail Tax
The U.S. Senate has passed a bill that will impose a sales tax on online retailers. Discover how the Marketplace Fairness Act could affect your bottom line. -
How To Get The Most Out Of Hiring An Accountant
When you hire an accountant, getting good tax advice going forward is as valuable as – or perhaps even more valuable than - getting the previous year’s taxes filed correctly. Learn what you need ... -
How The 2014 Obama Budget Could Affect Your Finances
Depending on which estimate you believe, Obama's proposed budget would raise the tax bill of a household with a yearly income of $50,000 to $75,000 between $63 and $100 per year. However, that’s ... -
Inaccurate Tax Return, Now What?
If the IRS finds errors, it will cost you. Find out how to fix them, and how to prevent them in the first place.
Free Annual Reports
