- A/B
-
Taxable Income and Total Tax Liability are in thousands. *The average tax rate is total tax liability divided by taxable income. Required: a. If the federal tax system was changed to a proportional tax rate structure with a tax rate of 17.10%, calculate the amount of tax liability for 2021 for all taxpayers. b. What is the amount and nature of difference from actual tax liability specified in the above table? If the federal tax system was changed to a proportional tax rate structure with a tax rate of 17.10%, calculate the amount of tax liability for 2021 for all taxpayers. Note: Consider intermediate computations and final answer in thousands of dollars, rounded to the nearest whole number. Taxable Income and Total Tax Liability are in thousands. *The average tax rate is total tax liability divided by taxable income. Required: a. If the federal tax system was changed to a proportional tax rate structure with a tax rate of 17.10%, calculate the amount of tax liability for 2021 for all taxpayers. b. What is the amount and nature of difference from actual tax liability specified in the above table? What is the amount and nature of difference from actual tax liability specified in the above table? Note: Input your answer as a positive number. Consider intermediate computations and final answer in thousands of dollars, rounded to the nearest whole number. Miremba is single and has taxable income of $84,911. Required: For that income, determine tax liability using the tax tables and using the tax rate schedules. Note: Round your intermediate computations and final answers to 2 decimal places. Schedule X-Single Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) Schedule Y-2-Married Filing Separately Schedule Z-Head of Household \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{2}{|c|}{\begin{tabular}{l} If line 15 \\ (taxable \\ income) is- \end{tabular}} & \multicolumn{4}{|c|}{ And you are- } \\ \hline \begin{tabular}{l} At \\ least \end{tabular} & \begin{tabular}{l} But \\ less \\ than \end{tabular} & Single & \begin{tabular}{l} Married \\ filing \\ jointly * \\ Your t \end{tabular} & \begin{tabular}{l} Married \\ filing \\ sepa- \\ rately \\ ax is- \end{tabular} & \begin{tabular}{l} Head of \\ a \\ house- \\ hold \end{tabular} \\ \hline \begin{tabular}{l} 84,000 \\ 84,050 \\ 84,100 \\ 84,150 \\ 84,200 \end{tabular} & \begin{tabular}{l} 84,050 \\ 84,100 \\ 84,150 \\ 84,200 \\ 84,250 \end{tabular} & \begin{tabular}{l} 14,103 \\ 14,114 \\ 14,125 \\ 14,136 \\ 14,147 \end{tabular} & \begin{tabular}{l} 9,720 \\ 9,731 \\ 9,742 \\ 9,753 \\ 9,764 \end{tabular} & \begin{tabular}{l} 14,103 \\ 14,114 \\ 14,125 \\ 14,136 \\ 14,147 \end{tabular} & \begin{tabular}{l} 12,603 \\ 12,614 \\ 12,625 \\ 12,636 \\ 12,647 \end{tabular} \\ \hline \begin{tabular}{l} 84,250 \\ 84,300 \\ 84,350 \\ 84,400 \\ 84,450 \end{tabular} & \begin{tabular}{l} 84,300 \\ 84,350 \\ 84,400 \\ 84,450 \\ 84,500 \end{tabular} & \begin{tabular}{l} 14,158 \\ 14,169 \\ 14,180 \\ 14,191 \\ 14,202 \end{tabular} & \begin{tabular}{l} 9,775 \\ 9,786 \\ 9,797 \\ 9,808 \\ 9,819 \end{tabular} & \begin{tabular}{l} 14,158 \\ 14,169 \\ 14,180 \\ 14,191 \\ 14,202 \end{tabular} & \begin{tabular}{l} 12,658 \\ 12,669 \\ 12,680 \\ 12,691 \\ 12,702 \end{tabular} \\ \hline \begin{tabular}{l} 84,500 \\ 84,550 \\ 84,600 \\ 84,650 \\ 84,700 \end{tabular} & \begin{tabular}{l} 84,550 \\ 84,600 \\ 84,650 \\ 84,700 \\ 84,750 \end{tabular} & \begin{tabular}{l} 14,213 \\ 14,224 \\ 14,235 \\ 14,246 \\ 14,257 \end{tabular} & \begin{tabular}{l} 9,830 \\ 9,841 \\ 9,852 \\ 9,863 \\ 9,874 \end{tabular} & \begin{tabular}{l} 14,213 \\ 14,224 \\ 14,235 \\ 14,246 \\ 14,257 \end{tabular} & \begin{tabular}{l} 12,713 \\ 12,724 \\ 12,735 \\ 12,746 \\ 12,757 \end{tabular} \\ \hline \begin{tabular}{l} 84,750 \\ 84,800 \\ 84,850 \\ 84,900 \\ 84,950 \\ \end{tabular} & \begin{tabular}{l} 84,800 \\ 84,850 \\ 84,900 \\ 84,950 \\ 85,000 \\ \end{tabular} & \begin{tabular}{l} 14,268 \\ 14,279 \\ 14,290 \\ 14,301 \\ 14,312 \\ \end{tabular} & \begin{tabular}{l} 9,885 \\ 9,896 \\ 9,907 \\ 9,918 \\ 9,929 \\ \end{tabular} & \begin{tabular}{l} 14,268 \\ 14,279 \\ 14,290 \\ 14,301 \\ 14,312 \end{tabular} & \begin{tabular}{l} 12,768 \\ 12,779 \\ 12,790 \\ 12,801 \\ 12,812 \\ \end{tabular} \\ \hline \end{tabular}