Tax Table


DEFINITION of 'Tax Table'

A table or chart displaying the amount of tax due based on income received. The tax rate may be shown as a discrete amount, a percentage rate, or a combination of both. Tax tables are used by individuals, companies and estates for both standard income and capital gains.

A typical tax table will show breakpoint income levels, above and below which different tax rates will apply.


Tax tables are used most often by individuals and companies with modest levels of income. High income earners, whether individuals or corporations, tend to use more detailed tax rate schedules in conjunction with itemized deductions.

Tax tables will change from year to year, and will vary from state to state. Investors should always be sure that they are using the correct tax tables based on their income sources and area of residence.

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    Income tax groupings specified by the Internal Revenue Service ...
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  1. Do tax brackets include Social Security?

    A portion of your Social Security benefits may be subject to federal taxation using tax brackets. Your tax bracket is determined ... Read Full Answer >>
  2. Do 401k contributions reduce AGI and/or MAGI?

    Traditional 401(k) contributions effectively reduce both adjusted gross income (AGI) and modified adjusted gross income (MAGI). ... Read Full Answer >>
  3. Are IRS audits random?

    While the U.S. Internal Revenue Service (IRS) conducts some of its tax audits using random selection based on a statistical ... Read Full Answer >>
  4. Does the IRS report to credit bureaus?

    The Internal Revenue Service (IRS) doesn't report overdue tax debt to credit bureaus. Federal law protects the privacy of ... Read Full Answer >>
  5. Does the IRS charge interest on penalties?

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