October 31, 2023

closeup on income tax form money calculator

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Founding Father Ben Franklin is credited with the quote "Nothing is certain except death and taxes." While taxes may be a certainty, they can also be confusing because they can vary based on where you live, what you purchase, how much you earn, and what you own.

  • The Internal Revenue Service (IRS) provides resources to assist individuals, businesses, and charities in meeting their federal tax obligations. These online tools include tax preparation and filing software, a tax withholding estimator, and various tax-related forms necessary for filing taxes, declaring withholdings, and more.
  • If you work for an employer, you and your employer pay taxes under the Federal Insurance Contributions Act (FICA). If you are self-employed, you must pay the total amount of these taxes yourself. Learn more about these tax rates in Topic 751 on the IRS website.
  • States and local governments establish income tax rates and sales taxes. Learn more about the tax rates in your state.
  • If you choose to have someone help you prepare your tax return, this article from the IRS shares considerations for selecting a tax preparer.
  • The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $60,000 or less a year, persons with disabilities, the elderly, and people with limited English who need assistance in preparing their own tax returns.
  • Fraud surrounding federal and state tax returns has become more common in recent years. Whether that fraud takes the form of a phisher seeking your personal information or the scammer filing a fraudulent return, the fraud victim should report the tax scam.