Taxes

How your paycheck gets taxed, and the accounts that cut the bill.

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Taxes
12 lessons
How your paycheck gets taxed, and the accounts that cut the bill.
Tax basics
How taxes workFour taxes, paid all year, settled each spring.Tax bracketsEach rate taxes only its own slice of income.Form W-4Five steps, and most people only need two.Refunds and withholdingA refund is your overpayment coming back.
Keep more of it
Standard vs itemizedPick the bigger number. Here's how to check.Credits vs deductionsOne cuts your income. The other cuts your tax.Earned Income Tax CreditA refund for working, even if you owe nothing.Child tax creditUp to $2,200 per child, partly paid as a refund.Health savings accountTax-free money for medical bills, now or later.Capital gains taxTax on the profit, and timing sets the rate.
Filing and paying
File taxes for freeFree federal filing, if you start at IRS.gov.Owe taxes, can't payFile on time, pay what you can, then a plan.