Online free IRS tax calculator to estimate taxes due.

Free IRS tax calculator to estimate taxes based upon income.

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2007 Federal Tax Rate Schedules: These tax rate schedules are provided to help you calculate your federal IRS estimated income tax for 2007. To compute your actual income tax, refer to the appropriate 2007 Form 1040, 1040A, or 1040EZ.

Choose the Tax Calculator which matches your filing type:

Schedule X: Single

Schedule Y-1: Married Filing Jointly or Qualifying Widow(er)

Schedule Y-2: Married Filing Separately

Schedule Z: Head of Household

  

Schedule X: Single   Select the row which reflects your "Taxable Income" Bracket If your taxable income bracket is Our Free tax calculator will automatically compute for you Enter your taxable income into the box for your tax  bracket and click "Calculate" (digits & decimal point only) $0 - $7,825 10% of the amount over $0 $7,550 - $31,850 $782.50 plus 15% of the amount over 7,825 $30,650 - $77,100 $4,386.25 plus 25% of the amount over 31,850 $74,200 - $160,850 $15,698.75 plus 28% of the amount over 77,100 $154,800 - $349,700 $39,148.75 plus 33% of the amount over 160,850 $336,550 or Higher $101,469.25 plus 35% of the amount over 349,700             Schedule Y-1: Married Filing Jointly or Qualifying Widow(er)   Select the row which reflects your "Taxable Income" Bracket If your taxable income bracket is Our Free tax calculator will automatically compute for you Enter your taxable income into the box for your tax  bracket and click "Calculate" ( digits & decimal point only) $0 - $15,650 10% of the amount over $0 $15,100 - $61,700 $1,565.00 plus 15% of the amount over 15,650 $61,300 - $128,500 $8,772.50 plus 25% of the amount over 63,700 $123,700 - $195,850 $24,972.50 plus 28% of the amount over 128,500 $188,450 - $349,700 $43,830.50 plus 33% of the amount over 195,850 $336,550 or Higher $94,601.00 plus 35% of the amount over 349,700             Schedule Y-2: Married Filing Separately   Select the row which reflects your "Taxable Income" Bracket If your taxable income bracket is Our Free tax calculator will automatically compute for you Enter your taxable income into the box for your tax  bracket and click "Calculate" ( digits & decimal point only) $0 - $7,825 10% of the amount over $0 $7,550 - $31,850 $782.50 plus 15% of the amount over 7,825 $30,650 - $64,250 $4,386.25 plus 25% of the amount over 31,850 $61,850 - $97,925 $12,486.25 plus 28% of the amount over 64,250 $94,225 - $174,850 $21,915.25 plus 33% of the amount over 97,925 $168,275 or Higher $47,300.50 plus 35% of the amount over 174,850             Schedule Z: Head of Household   Select the row which reflects your "Taxable Income" Bracket If your taxable income bracket is Our Free tax calculator will automatically compute for you Enter your taxable income into the box for your tax  bracket and click "Calculate" ( digits & decimal point only) $0 - $11,200 10% of the amount over $0 $10,750 - $42,650 $1,120.00 plus 15% of the amount over 11,200 $41,050 - $110,100 $5,837.50 plus 25% of the amount over 42,650 $106,000 - $178,350 $22,700.00 plus 28% of the amount over 110,100 $171,650 - $349,700 $41,810.00 plus 33% of the amount over 178,350 $336,550 or Higher $98,355.50 plus 35% of the amount over 349,700

For more information about IRS tax return preparation and rapid refund, visit irs.gov for free tax return preparation and e-file forms.

Read our latest tax news, and search for other articles related to the IRS and tax filing.

Grants for Organizations and Individuals

A federal grant is financial assistance from a federal agency and the grant recipient must carry out a public purpose authorized by a law of the United States. Federal grants are not federal assistance or loans to individuals and may not used to get property or services for the federal government's direct benefit. There are 26 Federal Agencies that offer over 1,000 grant programs in different categories. 

Here are the 26 agencies that provide grants: The Department of Health and Human Services, Agency for International Development, Corporation for National and Community Service, Department of Agriculture, Department of Commerce, Department of Defense, Department of Education, Department of Energy, Department of Health and Human Services, Department of Homeland Security, Department of Housing and Urban Development, Department of the Interior, Department of Justice, Department of Labor, Department of State, Department of Transportation, Department of the Treasury, Department of Veterans Affairs, Environmental Protection Agency, Institute of Museum and Library Services, National Aeronautics and Space Administration, National Archives and Records Administration, National Endowment for the Arts, National Endowment for the Humanities, National Science Foundation, Small Business Administration, and the Social Security Administration.

There are infomercials and websites that advertise free money, however few are available to individuals and there are none available that provides personal financial assistance. You can find out if you are eligible to apply for grants on Grants.gov website and you can watch a tutorial. If you register as an Individual, you will only be able to apply to grant opportunities that are open to individuals. An individual cannot submit a grant application to a grant opportunity that is just open to organizations. 

Some examples of Organizations are: Government, State, Local, City, Township, Special District, Native American Tribal Governments, Education, Public Housing, and Non-Profit Organizations.

Small business loans and small business grants may be awarded to companies that meet the size standards that the U.S. Small Business Administration (SBA) has established for most industries in the economy. The most common size standards are as follows:

* 500 employees for most manufacturing and mining industries

* 100 employees for all wholesale trade industries

* $6 million for most retail and service industries

* $28.5 million for most general & heavy construction industries

* $12 million for all special trade contractors

* $0.75 million for most agricultural industries

About one-fourth of industries have a size standard that is different from the levels above and they vary from $0.75 million to $28.5 million for size standards. This is based on average annual revenues and from 100 to 1500 employees for size standards based on number of employees. With some exceptions, all federal agencies, and many state and local governments, use the size standards established by SBA.

Visit the website: govbenefits.gov to get all the FAQs about grants and grant information for organizations and individuals.

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Social Security and Medicare Finances	With all the money woes at hand there is even more concern about the government's Social Security and Medicare programs. It appears budgets have affected both and the cash may be depleted by 2041. The prediction has been that Social Security would be paying more out in 2017 than it collects through taxes.
IRS Tax Debt Collection	IRS Tax Debt Collection. The IRS will send a bill for unpaid taxes, and collection attempts will continue until the statute of limitations.
IRS Late Tax Filing Extensions	Still haven't filed your 1040 and won't make the government's deadline? IRS Late Tax Filing Extensions.
Government Lawmakers, IRS Taxes and the Economy	Government Lawmakers, IRS Taxes and the Economy.
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Bailout Bonus Tax	With the public in a rage over recent bonus payments, the government did pass a bill in a 328 to 93 vote for an IRS bailout bonus tax legislation.
President Tax Relief Plan	The President's tax plan gives tax relief to middle class families and tax cuts for small businesses to create jobs in America.

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