The Big To-Do on Federal Tax Rates 2011

Federal payroll tax rates are determined by the US government, and they can vary from time to time, depending on the tax laws that are passed or extended. It is important that you keep yourself updated with the amount of federal payroll tax that you need to pay, so that you can plan your finances better.

The percentage of your paycheck that is withheld as federal payroll tax varies according to your income level and filing status. Presently, it can range from 10% to 35% of the salary or wage that you receive from your employer. If you are filing as a single person and you make $2,100 to $10,600 a year, you will have 10% of your pay withheld for federal payroll tax. If you are in the income tax bracket of $10,600 to $36,600, your income will be taxed at a rate of 15%.

Posted in: The Big To-Do on Federal Tax Rates 2011