Federal Income Tax Use this calculator to estimate your income tax liability along with average and marginal tax rates. You are viewing this website at a small screen resolution which doesn't support calculators. Click here to view this calculator. Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content Year-End Charitable Gifting and You This article may help you maximize the benefits of your donation for your chosen charity. When Life Insurance Becomes Taxable Life insurance proceeds are generally tax-free. But not in all cases. A Look at Whole Life Insurance Whole life insurance remains in force as long as you remain current with premiums. Here's how it works.