Question
Anne earns a gross yearly salary of $165,035. She has no dependent children and made the following tax deductible purchases: Charitable contributions: $9,715 Student loan
Anne earns a gross yearly salary of $165,035. She has no dependent children and made the following tax deductible purchases:
Charitable contributions: $9,715 Student loan interest: $608
When she files her taxes, what will her tax refund be?
Round your answer to the nearest dollar.
Use the following information:
Standard deduction for single filers: $12,950
Biweekly allowance: $165.38 per person.
For your final answer proceed as:
Annual Income Tax Pay/Refund = Total Annual Withholding - Final Income Tax.
If the person has to pay the government, type the number with a negative sign. For example -1280.
If the person has to receive a refund from government, type the number without sign. For example 1280.
2022 Individual Taxpayers \begin{tabular}{|c|c|} \hline If Taxable Income is Between: & The Tax Due is: \\ \hline$0$10,275 & 10% of taxable income \\ \hline$10,276$41,775 & $1,027.50 plus 12% of the amount over $10,275 \\ \hline$41,776$89,075 & $4,807.50 plus 22% of the amount over $41,775 \\ \hline$89,076$170,050 & $15,213.50 plus 24% of the amount over $89,075 \\ \hline$170,051$215,950 & $34,647.50 plus 32% of the amount over $170,050 \\ \hline$215,951$539,900 & $49,335.50 plus 35% of the amount over $215,950 \\ \hline$539,901 or more & $162,718 plus 37% of the amount over $539,900 \\ \hline \end{tabular} 2022 Single Person Biweekly Withholding Table \begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ Taxable Wages } & \multicolumn{1}{c|}{ Wages Withholding } \\ \hline$0$249 & $0.00 \\ \hline$249$447 & $0.00 plus 10% of amount exceeding $249 \\ \hline$447$1,052 & $19.80 plus 12% of amount exceeding $447 \\ \hline$1,052$1,962 & $92.40 plus 22% of amount exceeding $1,052 \\ \hline$1,962$3,519 & $292.60 plus 24% of amount exceeding $1,962 \\ \hline$3,519$4,402 & $666.28 plus 32% of amount exceeding $3,519 \\ \hline$4,402$10,632 & $948.8435% of amount exceeding $4,402 \\ \hline$10,632 or more & $3,129.37 plus 37% of amount exceeding $10,632 \\ \hline \end{tabular}Step by Step Solution
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