Now that you’ve gotten extra months to file your taxes by doing an online tax extension with FileLater you might be curious what happens next. With the extra time our team has addressed some of the most common tax extension questions.
Taxpayers who are serving in a combat zone or in a contingency operation in support of the Armed Forces are entitled to automatically extend their tax filing AND tax payment deadlines. When taxpayers are serving in a qualified combat zone, the deadline for filing and payment is increased by 180 days from the last day they are in a qualified combat zone OR the last day of continuous hospitalization related to injury from military service.
Federal Income Tax Rates for 2017
The Federal income tax is made up of 7 rate brackets (10%, 15%, 25%, 28%, 33%, 35%, and 39.6%).
Only the income you earn within a specific bracket is subject to that specific tax rate – therefore, moving into a higher tax bracket does not make all of your income taxable at a higher rate.
The amount of tax you owe the IRS each year is based on your income level and your filing status.