Simple Federal Tax Calculator (Tax Year 2016)
Enter your filing status, income, deductions and credits and we will estimate your total tax for 2016. This simple calculator will help you determine your tax refund.
How the simple federal tax calculator (tax year 2016) works
It gives a fast 2016 federal estimate: it subtracts the $6,300 single standard deduction (or $12,600 joint) and exemptions from your income, then applies the 2016 tax brackets.
Worked example: with taxable wages / income of $60,000, the simple federal tax calculator (tax year 2016) shows estimated 2016 federal tax of $8,184.
- Taxable income
- $49,650
- Federal tax
- $8,184
- Effective rate
- 13.6%
- Marginal rate
- 25%
The formula
Taxable income = income − 2016 standard deduction − exemptions; tax from the 2016 brackets.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.
Questions about the simple federal tax calculator (tax year 2016)
How is this simpler than the full 1040 calculator?
It assumes the standard deduction and a basic exemption rather than asking for itemized deductions, adjustments and withholding — a quick estimate for a typical filer.
When is this estimate accurate?
For someone who takes the standard deduction with straightforward income. If you itemize, have credits or multiple income types, use the full 1040 calculator.
Does it include state tax?
No — it estimates federal income tax only. State income tax, where applicable, is separate and varies widely by state.
Is the Simple Federal Tax Calculator (Tax Year 2016) free to use?
Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.