Over the years I have noticed that many people don't fully understand how Federal income tax brackets work. This web page will prepare a simple report to explain your 2003 Federal income tax liability. The report will not take into account AMT, Self-Employment taxes, Credits or many other items that may cause the report to differ from your actual income tax liability. It is normal for the report to show a total tax liability that is off from your actual tax by ten dollars or so, this is due to rounding of the IRS tables.