1-42 (LO 1-4) Check my wa Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $38,588, and Petra has W-2 income of $49,3811 Use the appropriate Tax Tables and Tax Rate Schedules. Required: a. What is their tax liability using the Tax Tables? b. What is their tax liability using the Tax Rate Schedule? Note: Round your intermediate computations and final answer to 2 decimal places. a. Tax liability using Tax Tables b. Tax liability using Tax Rate Schedule A A A BRA REE GAAN REAKA ** ** ** ** CAN REKKE ***** A REE GRAN REE REG R Tax Table Tax Table below to figure your tax A B Lasst Less 232 Single Married Married Head jointly sepa of a rately hold Your tax is- 2.826 25,250 25,300 Example. Mr. and Mrs. Brown are fring a joint retum. Their taxable income on Form 1040, line 15, is $25,300. First, they find the 25,200 25.250 $25.300-25.350 taxable income line. Next, they find the column for married filing jointly and read down the column. The amount shown where the taxable income line and filing status column meet li $2,641 This amount they should enter in the 20,350 (13/20) on a 25,400846 AS OF it ne 15 And you are- If line 15 taxable And you are axable September Your tax is- 1,000 Marted Your tex is- ne 15 (taxable income) is 2,000 And you are rally hold Your taxi- ****** BEEKE 53 80588 89 E BE 89838 39 E ***** REEEE 388 88 A 88858 84 85888 59999 888 888 859 589 * A * 0538 85388 CARRE GEN *** *** *** *** 380 R 38853 ***** *** *** *** R388 FREE 3 E RARER RES C S ARE G 2021 Federal Tax Rate Schedules Schedule X-Single If taxable income is over: But not over: SO $9.950 $9,950 $40.525 $40,525 $86,375 $86,375 $164,925 $164,925 $209,425 $523,600 $209,425 $523,600 10% of taxable income The tax is: $995.00 plus 12% of the excess over $9,950 $4,664.00 plus 22% of the excess over $40.525 $14,751.00 plus 24% of the excess over $86,375 $33.603.00 plus 32% of the excess over $164,925 $47,843.00 plus 35% of the excess over $209,425 $157,804.25 plus 37% of the excess over $523,600 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable. income is over: But not over: The tax is: 10% of taxable income 50 $19.900 $19.900 $81,050 $81,050 $172,750 $172,750 $329,850 $329,850 $418,850 $628,300 $418,850 $628,300 $1,990.00 plus 12% of the excess over $19,900 $9,328.00 plus 22% of the excess over $81,050 $29.502.00 plus 24% of the excess over $172,750 $67,206.00 plus 32% of the excess over $329,850 $95.686.00 plus 35% of the excess over $418,850 $168,993.50 plus 37% of the excess over $628,300 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $9,950 ONVERE $9.950 $40,525 686376 10% of taxable income The tax is: $995.00 plus 12% of the excess over $9.950 $4.661.00 plus 22% of the excess over $40.525 If taxable income is over: But not over: 50 $19,900 $19,900 $81,050 $81,050 $172,750 $172,750 $329,850 $418,850 $628,300 $329,850 $418,850 $628,300 10% of taxable income The tax is: $1.990.00 plus 12% of the excess over $19,900 $9,328.00 plus 22% of the excess over $81,050 $29,502.00 plus 24% of the excess over $172,750 $67,206.00 plus 32% of the excess over $329,850 $95,686.00 plus 35% of the excess over $418,850 $168.993 50 plus 37% of the excess over $628,300 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: 10% of taxable income 50 $9,950 $9.950 $40,525 $40.525 $86,375 $86.375 $164,925 $164,925 $209,425 $314,150 $209,425 $314,150 Schedule Z-Head of Household If taxable income is over: But not over: 50 $14,200 $54,200 $86.350 $164,900 $209,400 $523.600 $14,200 $54,200 $86,350 $164,900 $209,400 $523,600 $995.00 plus 12% of the excess over $9.950 $4,664.00 plus 22% of the excess over $40,525 $14,751.00 plus 24% of the excess over $86,375 $33,603.00 plus 32% of the excess over $164,925 $47.843.00 plus 35% of the excess over $209,425 $84,496.75 plus 37% of the excess over $314,150 10% of taxable income The tax is: $1,420.00 plus 12% of the excess over $14,200 $6,220.00 plus 22% of the excess over $54,200 $13.293.00 plus 24% of the excess over $86,350 $32,145.00 plus 32% of the excess over $164,900 $46,385.00 plus 35% of the excess over $209,400 $156.355.00 plus 37% of the excess over $523.600