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Use the 2020 Federal Tax Rates for Individuals to calculate the estimated taxes for a taxable income of $54,800. 2020 Federal Tax Rates for

Use the 2020 Federal Tax Rates for Individuals to calculate the estimated taxes for a taxable income of $54,800. 2020 Federal Tax Rates for Individuals Tax rate Taxable Income Bracket 10% 12% 22% 24 % $0 to $9875 $9876 to $40,125 $40,126 to $85,525 $85,526 to $163,300 32% $163,301 to $207,350 35% $207,351 to $518,400 37% $518,401 or more

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