The H&R Block online tax calculator has been a popular way to estimate tax refunds for years, and can really help with financial planning. However, the calculator didn’t have the best user experience. So, H&R Block hired a prestigious tech-focused creative agency called, Code & Theory, to help them improve the tool.
There are 7 federal income tax brackets currently ranging from 10-37% and how much you pay depends on your taxable income and filing status. However, all of your income is likely not taxed at one single bracket rate. That’s because federal income is taxed in chunks as you ascend up the tax brackets, making the math a little complex.