Federal income tax

The federal income tax is the percentage tax rate charged by the Internal Revenue Service against the earnings of individuals, corporations, and other entities.  Different tax rates may apply, depending on the type of income earned, such as ordinary income versus long-term capital gains income. State governments may also charge an income tax, which is applied in addition to the federal income tax.

Related Courses

Accounting for Income Taxes 
Corporate Tax Planning 
Family Tax Planning