Income Tax Calculator
Updated to include income tax calculations for 2022 form 1040 and, 2023 Estimated form 1040-ES, for status Single, Married Filing Jointly, Married Filing Separately, or Head of Household.
Estimate your US federal income tax for 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, or 2015 using IRS formulas. The calculator will calculate tax on your taxable income only. Does not include income credits or additional taxes. Does not include self-employment tax for the self-employed.
Also calculated is your net income, the amount you have left over after taxes or paid. This does not account for any other taxes you may have.
Based on the tax bracket you enter the calculator will also estimate tax as a percentage of your taxable income.
Calculator Variables and Results
Choose the year that you want to calculate your US Federal Tax
Choose one of the following: Single, Married Filing Jointly, Married Filing Separately, or Head of Household
The income amount that will be taxed
The estimated tax you will pay
The tax bracket you fall into based on your filing status and level of taxable income
Tax as a percentage of your taxable income
Since taxes are calculated in tiers, the actual tax you pay as a percentage of your taxable income will always be less than your tax bracket.
Net Income after Tax is paid
This is the amount you have left over after you pay your Federal taxes. [Net Income = Taxable Income - Estimated Tax] This does not account for state and local taxes.
Estimating Federal Income Tax
The calculator results provided here are an estimate based on taxable income only. The IRS uses many factors to calculate the actual tax you may owe in any given year. Note that if you are self-employed this calculator does not include estimated self-employment tax. Please consult IRS.gov Form 1040-ES for specific information about estimated tax for the self-employed.
Cite this content, page or calculator as:
Furey, Edward "Income Tax Calculator" at https://www.calculatorsoup.com/calculators/financial/tax-federal-est.php from CalculatorSoup, https://www.calculatorsoup.com - Online Calculators
Last updated: January 3, 2023