Who: This post is for people who don’t know what tax brackets are or those who know what they are and want to find the specifics for 2006.
What: This post just shows the 2006 federal income tax brackets for reference.

So, let’s start with the nifty little graphic, copyrighted by William Wallets of course (and maybe the IRS).

2006 Federal Income Tax Brackets

For those of you who raise your hand to correct an irrelevant mistake made by the teacher on the blackboard, I will note that the tax paid column is rounded to the nearest dollar. So, here’s how we use this nifty chart.

Step 1:
Find your filing status, and refer to that chart. What is my filing status?
Step 2: Find the row that corresponds to your taxable income. What is a row?
Step 3: Take the difference of your taxable income and the “of amount over” column. What is the difference?
Step 4: Multiply the difference obtained in step 3 by the “plus” column. What is multiplication?
Step 5: Add the quantity obtained in step 4 to the “tax paid is” column to find the total tax owed! What is addition?

Voila, there you have it.

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