Federal Income Tax Use this calculator to estimate your income tax liability along with average and marginal tax rates. You are viewing this website at a small screen resolution which doesn't support calculators. Click here to view this calculator. Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content What Is a 1035 Exchange? 1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability. How Income Taxes Work A quick look at how federal income taxes work. Four Reasons Millennials Need an Estate Strategy Estate strategies for millennials may sound like less of a concern than retirement, but young adults should prepare now.