Income Tax Calculator
Calculate your federal income tax for 2026 based on filing status and deductions.
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2026 Federal Tax Highlights
Source: IRS (2026)
Frequently Asked Questions
What is the standard deduction for 2026?
The 2026 standard deduction is $16,100 for single filers, $32,200 for married filing jointly, and $24,150 for head of household. These amounts are indexed for inflation annually. You should itemize only if your itemized deductions (mortgage interest, state and local taxes up to $40,400 (2026 cap), charitable gifts, medical expenses) exceed the standard deduction.
What is the difference between effective and marginal tax rate?
The marginal tax rate is the rate on your last dollar of income. The effective rate is your total tax divided by total income. Someone earning $85,000 single has a 22% marginal rate but roughly 15% effective rate because lower income portions are taxed at 10% and 12%. The marginal rate matters most for decisions about earning additional income.
How can I reduce my federal income tax?
Key strategies: maximize pre-tax retirement contributions (401k up to $24,500, IRA up to $7,500 in 2026), contribute to an HSA ($4,400 single, $8,750 family), harvest tax losses in investment accounts, defer income to lower-earning years, bunch charitable donations to exceed standard deduction in alternating years, and use qualified opportunity zone investments.