Will the 2011 Federal Income Tax Brackets actually tell you how much you owe the IRS?
We don’t recommend using the 2011 Federal Income Tax Brackets as a guide. The only way to figure out your tax bill is to prepare your tax form. Why? A big reason is that tax brackets assume all income is ordinary; that is income from wages, self-employment or short-term capital gain. Dividends and long-term capital gains are taxed at lower rates and certain types of income, like Muni-bonds, are tax free.