NID PartnersWhat this covers. Federal rules only. State and local income, sales and payroll taxes are not covered. Figures are for calendar tax year 2026 (returns filed in 2027); the calendar also shows the 2026 dates for 2025 returns.
This is a bookkeeping reference, not individualized tax advice. Apply the correct entity type, residency, province/state, employee location, accounting method and elections.
Income tax for individuals
Federal income tax is progressive: each rate applies only to the part of taxable income inside its bracket. Each rate covers income over the lower figure, up to the higher one.
| Rate | Single | Married filing jointly |
|---|---|---|
| 10% | $0 to $12,400 | $0 to $24,800 |
| 12% | $12,400 to $50,400 | $24,800 to $100,800 |
| 22% | $50,400 to $105,700 | $100,800 to $211,400 |
| 24% | $105,700 to $201,775 | $211,400 to $403,550 |
| 32% | $201,775 to $256,225 | $403,550 to $512,450 |
| 35% | $256,225 to $640,600 | $512,450 to $768,700 |
| 37% | Over $640,600 | Over $768,700 |
Tax year 2026. Progressive; apply each rate only to income in its bracket. Other filing statuses have different thresholds.
| Item | Rate or amount | Applies to |
|---|---|---|
| Standard deductionTax year 2026 | $16,100 single / $32,200 MFJ / $24,150 HOH | Tax year 2026 amounts; filing status and age/blindness rules may alter result. |
Business and company tax
This reference does not list business income tax rates. The federal return dates for partnerships, S corporations and C corporations are in the calendar below.
Payroll
Employers withhold the employee share of Social Security and Medicare and pay a matching employer share. Deposits and quarterly returns are in the calendar below.
| Item | Rate or amount | Applies to |
|---|---|---|
| Social Security (employee and employer)Calendar year 2026 | 6.2% each | Wages up to $184,500 per employeeSocial Security portion only; stop at annual wage base. |
| Medicare (employee and employer)Calendar year 2026 | 1.45% each | All covered wages; no wage baseAdditional Medicare withholding is employee-only; employer does not match additional 0.9%. |
| Additional Medicare withholdingCalendar year 2026 | 0.9% employee withholding | Wages paid by one employer above $200,000 in calendar yearFinal employee liability is determined on individual return; employer withholding trigger is not filing-status dependent. |
Sales tax
There is no federal sales tax. Sales and use tax is set by states and local governments, and it is outside this federal reference.
Filing and payment calendar
Coming up, as of 28 Sep 2026
- 2 Nov 2026Form 941 for July to September: due 31 Oct, which is a Saturday, so the next business day applies.
- 15 Jan 2027Fourth 2026 estimated tax payment for individuals.
- 1 Feb 20272026 Forms W-2/W-3 and 1099-NEC: 31 Jan 2027 is a Sunday.
- Each payrollFederal payroll tax deposits on your assigned monthly or semiweekly schedule.
The recurring rules are below. Dates marked Passed are 2026 examples that have already gone by; keep them as reference points, and check the agency's current calendar and any due date assigned to you before scheduling.
Income tax returns and payments
Form 1040 federal return and payment
Calendar tax year 2025Federal estimated payments
Current-year individual estimated taxPartnership Form 1065 / S corporation Form 1120-S
Calendar tax year 2025C corporation Form 1120
Calendar tax year 2025Payroll
Form 941 employer quarterly return
Each calendar quarterFederal payroll tax deposits
Each payroll; assigned monthly or semiweekly deposit scheduleW-2/W-3 and 1099-NEC
Calendar yearMonth-end checks for these taxes
Payroll tax accounts should tie out every month, not just when Form 941 is due.
Federal payroll liabilities
Monthly/quarterlyEvery close, in every country
These checks sit underneath the tax accounts. If they are not done, the tax figures above cannot be trusted. The month-end close article covers the rhythm.
- Bank and payment processor reconciliation (monthly): Reconcile every operating, tax, payroll, card, marketplace and loan account to statement; investigate uncleared and duplicate items. Do not post a plug to force the reconciliation.
- Revenue completeness and cut-off (monthly; especially period end): Reconcile invoicing/order systems to ledger, deposits, returns, refunds, chargebacks, discounts, shipping and sales tax. Use accrual/cash method selected for the entity and follow applicable tax rules.
- Expense completeness and classification (monthly): Check statements, receipts, AP, recurring subscriptions, owner/personal items, prepaid expenses and accrued liabilities. Keep personal and business spending distinguishable; verify deductibility separately.
- Inventory and cost of sales (monthly where material; formal count at least annually): Reconcile opening stock + purchases/landed cost − closing stock to cost of sales; test counts and identify shrinkage/obsolete goods. Inventory tax/accounting methods depend on jurisdiction and entity.
- Payroll control accounts (every payroll and monthly close): Tie gross pay, employee deductions, employer charges, net pay, tax authority liabilities and payments to payroll register. Review classification, taxable benefits, leave accruals and jurisdiction-specific employer taxes.
- Accruals, prepayments, fixed assets and debt (monthly/quarterly): Update depreciation, amortisation, accrued expenses, prepaids, debt principal/interest and asset disposals. Tax depreciation and financial-statement depreciation may diverge; track separate tax schedules.
- Trial balance review and financial pack (monthly): Review unusual balances, suspense, negative assets/liabilities, margin trends, cash runway and balance sheet movements. Management reports should state basis, period, currency and known limitations.
- Tax package and records (year-end): Freeze year-end ledger, document adjusting entries, provide reconciliations and retain source documents in an indexed archive. Retention periods differ by record type and jurisdiction; verify before destruction.
Official sources
Each figure above traces to one of these IRS pages, all checked on 28 Sep 2026. Review annually and whenever an agency changes a rate, threshold, payroll rule or due date. Keep prior-year rates when closing earlier books.
- 2026 individual income tax adjustmentsIRS · TY 2026 individual marginal brackets and standard deduction. Applies to tax year 2026 returns filed in 2027.
- 2026 Form 941 instructionsIRS · 2026 Social Security rate and wage base; Form 941 deposit/reporting exceptions.
- Employment tax due datesIRS · Payroll form reporting, W-2 and 1099-NEC due dates; verify exact annual calendar dates.
- 2026 tax calendar / Publication 509IRS · 2026 federal business, individual and payroll calendar dates.
- When to file individual returnsIRS · Calendar-year individual return date, extensions, and payment rule.
- Recordkeeping for small businessesIRS · Small-business books and supporting records.
- Topic 751: Social Security and Medicare withholding ratesIRS · FICA rates, Additional Medicare tax and wage-base information.
A rate is only right for the right period, entity and place. Check all three before you post it.
Bookkeeping reference, not tax advice. Rules change; confirm your own situation with a registered tax professional before you file.