Help with Tax Table 2014 brackets
Time to pay the tax man;
The Tax Table 2014 results will determine how much you need to pay the IRS, based in your IRS Taxable Income and other factors. One of the most heart wrenching things, that we all do each year, is file and pay our IRS Federal Income Taxes. That is why you need to pay close attention to the IRS regulations and keep them at your finger tips. Your taxable income when applied against the Tax brackets will determine how much in taxes you owe the US Treasury and IRS. The IRS Income tax laws, in their progressive state, and the current 2014 IRS Tax Tables are surely not fair in the current form. We need to pressure Congress for fairer IRS Income Tax laws, that allow everyone to pay their fair share of taxes. To many people pay no taxes but get refunds anyway which leads to a tax system that makes no sense.
This is the 2014 Tax Tables to be used with Taxable Income
Will the tax rates ever go down?
We hope that this will be an easy way for you to link up with the Tax Table 2014 charts. Income Taxes are something we must all pay each year. Of course most US citizens have the income taxes withheld from their paycheck throughout the year. It’s important to have the amount withheld that will be close to what you owe when you file your federal taxes. If you have not withheld enough in taxes and the amount is large enough you may be liable for interest and penalties when you file you tax returns. The US Income Tax Laws are very progressive. It is so unfair that 50% of Americans do not even pay income taxes, and the top 5% of Americans pay most of the taxes. The current politicians want to make the gap even bigger for everyone that have jobs and are generating income. This is part of the ploy of a socialist society that takes from the workers to redistribute to the lower income population. If you are one of the folks that has no income, and are in that 50%, then you don’t have to worry about filing taxes. There is not much sense in you visiting the IRS site. It could also be that you just don’t generate enough taxable income to generate taxes from the Tax Table 2014. If that is the case then you can probably leave this site. Otherwise this data will be helpful to you. You can sometimes file an extension, if for some reason you cannot pay your taxes on time. See the proper IRS forms for this. You will pay interest on any taxes that are owed past the normal IRS filing deadline. The IRS and Treasury will milk the money out of you anyway they can.
Tax Table & IRS Tax Bracket Tips, Tax Table 2014
Tax tables and tax brackets were enacted by the federal government for the sole purpose of taxation on your taxable income. You will calculate what you owe in federal income taxes based on taxable income that is applied to the IRS 2014 IRS Tax Tables. Tax tables are used and applied against your taxable income. What this means is it is your income after taking away any deductions that you may have, and any exemptions that you are able to claim. The Tax brackets are not ready for use to calculate taxes on your income before taking these deductions away, so keep that in mind. You may want to visit a tax expert or your accountant when trying to calculate the tax you owe based solely on 2014 tax tables as it could be confusing trying to figure what your taxable income is. Normally you will use the tax tables and tax brackets only after you have filled out most of your tax return and deducted all elements, for that final taxable income result. Your filing status is a big part of the correct tax form submission, and calculating your final income tax. Your exemptions, that you can claim, and deduct from gross income are based on your filing status, and the number of dependents that you are claiming on your IRS federal tax return. You need to make sure and pick the correct filing status or you will use the incorrect tax rates. Usually the more taxable income that you have determines that you will pay more in taxes, but the filing status needs to also be correct. You ultimately cannot change your final taxable income calculation, but your final tax can be different depending on your filing status and exemptions claimed. A filing status more towards having a family, and more dependents, will usually result in lower overall taxes owed to the US government. The IRS does give you some credit for having the expenses of a family. Those tax savings will never offset the true cost of your family though. Again, I would run all of your assumptions by a tax expert to make sure you are paying the least amount of tax possible, and properly using the tax brackets. The last thing you want is to be visited by a government tax auditor because you have calculated the incorrect taxable income, used the wrong filing status, and then used the incorrect dollar amount off of the tax table schedule. You want to be accurate and stay away from issues with the IRS, as they are a very powerful and can do anything they want to you including freezing assets and freezing bank accounts.
Where to go for help when you need to file your tax forms;
Please see the attached URL on the IRS website for the Tax Table 2014:
See the IRS link above for correct Tax Table 2014 calculations, is this what you are looking for? If so than go to the link above. This is the brackets that you need to apply against your taxable income.
Remember that the IRS tax tables are calculated using taxable income, not your gross income. These tables should give you an idea of your Tax impact. Remember to talk to a tax expert if you are unsure how to use the IRS Tables for tax calculations. If this all seems too complex for you then you should get a tax accountant. As you look at and ponder the Tax calculations remember that it is sometimes wise to talk to an expert that is fluent in IRS taxation. If you are not sure what you are doing you may not want to file your taxes on your own, and seek out a tax expert. The IRS is not very tolerant of tax mistakes, especially if they short the IRS. They can come after you with interest and penalties in addition to the taxes that you owe.
When and where are tax forms filed to the IRS?
You must file your 1040 form by mid April each year. The exact date will depend on what day April 15 falls on. If it is on the weekend usually the taxes are due the next business day. If you file late you may have interest and penalties to pay.
If you were serving in the U.S. Armed Forces you may be able to file later. There is a publication 3 available to help you with this.
If you cannot file on time you can probably get a extension of up to 6 months. There are forms available for this, Form 4868 will help you with filing for an extension.
If you file for an extension this does not extend the time for paying your taxes. You will end up owing interest and penalties on any unpaid taxes. The taxes were still due on April 15th and you will need to pay interest on the time from April 15th to when you paid your taxes. This affects your Tax Table 2014 results. The form that will help you with this is Form 4868.
When research your tax forms, you may qualify for an extension if you meet one of the following conditions:
If you live outside the US and PR and your place of business is outside the US or PR.
You are part of the US military and you are on duty outside the US or PR.
If you get this extension it gives you 2 extra months to file and to pay the your taxes. You will still need to pat interest from when the tax was due. If at the end of 2 months you still cannot file a return you may be able to get another 4 month extension if you file form 4868 soon enough. Please see the form 4868 for more information on filing for this extension. Pay attention to the IRS forms when you ponder whether to file an extension. Remember the IRS will always get their extra interest, from you, if you file an extension.
Do you have to pay estimated tax, and when do you pay the estimations:
You must answer three questions to find out if you need to pay the IRS estimated Taxes. The first question is will you owe more than $999.99 for 2014 after you subtract your IRS Income Tax with-holding and refundable credits from you Total IRS tax that is due? If you answer NO to this then you do not need to worry about paying any estimated IRS taxes. If you answer YES then you must go to the next question. Tax Table 2014 question number 2; Will your IRS Tax Withheld on your income and credits be ninety percent or more of the IRS Income Tax on your federal return? The percentage is 66 and 2/3 percent for farmers and fisherman. If the answer to this is YES then you do not need to worry about paying estimated IRS Income Taxes. If you answer NO then move to the next question. Tax Table 2014 question number 3; Will your IRS withholding and credits to be refunded be One Hundred Percent of your IRS 2014 Income Tax on your Income Tax return? If you answer is YES then no need to worry about filing estimated IRS Tax payments. If the answer is NO then you must begin making estimated IRS Income Tax payments by the required due dates. As you can see just noting and paying your IRS Income Taxes does not always comply with what the IRS wants. Sometime you need to make estimated IRS Income Tax payments. Please keep this in mind if you are paying IRS Income Taxes to the IRS and not getting a IRS Income Tax refund.
Here is the IRS website where you can find this information:
We hope this page has been helpful for your questions related to IRS Income Taxes. Remember to always pay the IRS and Treasury on time or they will get you with interest and penalties. In order to get your taxes paid properly, to the IRS, you need some knowledge of Tax Table 2014 charts. Make sure you know what you are getting yourself into before you file any IRS Taxes. Understanding the IRS requirements is very important.