 Income tax 2021-2022. Payments. Get ready to get refunds to the MACS diving into income tax 2021-2022. Most of this information can be found in the Form 1040 Instructions Tax Year 2021 on the IRS website at irs.gov, irs.gov, income tax formula. We're focused down here on the payments area. Quick recap of the formula. Everything down to this taxable income. You can imagine basically kind of like a modified income statement where we have income minus different types of deductions. Then we get to the taxable income. Then we apply the tax calculation, which is confusing because it's not a flat tax, but we finally get to the tax and you would think then that you would be comparing the tax then to what we paid because we have to pay during the year, which would be the withholdings typically for a W-2 employee.