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Apply the IRS rules to compute federal tax withholdings from gross pay. 1.Determine the employee's gross pay. Verify the employee's total pay for the pay period. 2.Locate the employee's filing status. This can be found on the employee's W-4 form. 3.Find the number of allowances. Allowance are located on the employee's W-4.

Actual copies of your tax returns are generally available for the current tax year and as far back as six years. The fee for each copy you order is $57. To request a copy of your tax return, complete Form 4506, available on IRS.gov. Mail your request to the IRS office listed on the form for your area.

Gross income includes all of the income a person receives during a year that is not explicitly exempt from taxation, whereas taxable income is the amount of income that is actually subject to taxation after all allowable deductions or exemptions have been subtracted from the total income received.

Taxable income is the amount of income used to calculate an individual's or a company's income tax due. Taxable income is generally described as gross income or adjusted gross income minus any deductions or exemptions allowed in that tax year.

You may file Form 1040 by paper mail, by using IRS e-file, or through an approved tax preparer. Filing taxes online is generally safer, faster, and easier and you will get your tax refund much sooner if you choose the Direct Deposit option.

The most straightforward way to calculate effective tax rate is to divide the income tax expenses by the income earned before taxes. For example, if a company earned $100,000 and paid $25,000 in taxes, the effective tax rate is equal to 25,000 / 100,000 or 0.25.