Elysse Bell is a finance and business writer for Investopedia. She writes about small business, personal finance, technology, and more. Erika Rasure is globally-recognized as a leading consumer ...

A federal tax liability is an amount that’s owed to the government in taxes. It can include income taxes on earnings and capital gains taxes on assets. Both are based on brackets, a percentage of the ...

How much you owe the IRS at tax time is determined by the tax brackets you're eligible for. For tax year 2025 (filing in 2026), there are seven brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Each ...

Here's what you need to know about Form 1040: the mother of all tax forms. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain ...