The first step to surviving tax season is to know which IRS federal income tax brackets you fall into. Here's a full ...

Marginal vs. effective tax rates are two ways to express the percentage of your income that goes to tax. But they're each used for very different purposes.

Taxes may be fact of life, but have you ever been up close and personal with a Form 1040? Here's a beginner's guide to understanding how federal income tax returns work. Many, or all, of the products ...

Understanding your 1040 is the best way to legally minimize your taxes. Top tax professionals will tell you that effective tax planning needs to be proactive, not reactive. The best tax planning needs ...

Learn about tax attributes, which are reductions in tax credits, losses, and property basis when debt cancellation is excluded from taxable income.

Income tax is charged on most types of income but tax allowances protect some from the taxman. If you earn money from a job, you will have to pay tax once you breach the tax-free allowance. If you get ...

The net investment income tax (NIIT) adds a 3.8% tax on capital gains and investment income. NIIT thresholds have remained fixed since 2013, so more taxpayers are feeling its impact. Large capital ...