Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

$ 18,800 $ 12,550 $ 12,550 $1,350 Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
$ 18,800 $ 12,550 $ 12,550 $1,350 Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,700 and $3,400, respectively for a taxpayer who is both aged and blind. $1,700 . .. .... Single If taxable income is: The tax is: Not over $9,950 10% of taxable income Over $9,950 but not over $40,525 .... $995.00 +12% of the excess over $9.950 Over $40,525 but not over $86,375 .. $4,664.00 + 22% of the excess over $40,525 Over $86,375 but not over $164,925 $14,751.00 + 24% of the excess over $86,375 Over $164,925 but not over $209,425 . $33,603.00 + 32% of the excess over $164.925. Over $209,425 but not over $523,600 .. $47,843.00 + 35% of the excess over $209.425. Over $523,600 $157,804.25 + 37% of the excess over $523,600. Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,900 10% of taxable income. Over $19,900 but not over $81,050 . $1,990.00 + 12% of the excess over $19,900 Over $81,050 but not over $172,750 .. $9,328.00 + 22% of the excess over $81,050. Over $172,750 but not over $329,850 .. $29,502.00 + 24% of the excess over $172.750. Over $329,850 but not over $418,850 .. $67,206.00 + 32% of the excess over $329,850. Over $418,850 but not over $628,300 . $95,686.00 + 35% of the excess over $418,850. Over $628,300 $168.993.50 + 37% of the excess over $628,300 ..... ... ... Head of Household If taxable income is: The tax is: 10% of taxable income. ... Not over $14,200 Over $14,200 but not over $54,200 Over $54,200 but not over $86,350 Over $86,350 but not over $164,900 Over $164,900 but not over $209,400 Over $209,400 but not over $523,600 Over $523,600 .... $1,420.00 + 12% of the excess over $14,200. . . . . . $6,220.00 + 22% of the excess over $54,200. $13,293.00 + 24% of the excess over $86,350. .. $32,145.00 + 32% of the excess over $164,900. ... $46,385.00 + 35% of the excess over $209,400. $156,355.00 + 37% of the excess over $523,600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Intelligence For New-Generation ManagersCurrent Avenues Of Development

Authors: Jörg H. Mayer, Reiner Quick

6th Edition

3319156950, 9783319156958

More Books

Students also viewed these Accounting questions

Question

Are human errors in thinking and decisionmaking predictable?

Answered: 1 week ago