How Much Federal Taxes do I Owe?

The amount of federal taxes you may owe will depend on how much your total income was for that year. Then you will need to see what the federal tax amount is for that income. The IRS allows for some standard deductions which you will subtract from that amount before figuring your tax due. You will want to deduct any taxes that you had withheld from your pay check for federal taxes. Get a EZ tax form and booklet from your local IRS or online to see these charts.