Question
As a newly hired IRS trainee, you have been asked to calculate the amount of tax refund or tax owed for the taxpayer (in $).
As a newly hired IRS trainee, you have been asked to calculate the amount of tax refund or tax owed for the taxpayer (in $). (Enter a positive value for the amount.)
Name | Tax Liability | Tax Credits | Other Taxes | Payments | Refund/Owe (Select one) | Amount |
---|---|---|---|---|---|---|
Jason | $6,898 | $1,321 | $775 | $7,700 | ||
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Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer.
Name | Filing Status | Taxable Income | Tax Liability |
---|---|---|---|
Sara | head of household | $165,300 | $ _________ |
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Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer.
Name | Filing Status | Taxable Income | Tax Liability |
---|---|---|---|
Justin | single | $66,200 | $ ___________ |
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Filing status: Single Taxable income Tax At least $0 but not over $9,52510% of the amount over $0 Over $9,525 but not over $38,700$952.50+12% of the amount over $9,525 Over $38,700 but not over $82,500$4,453.50+22% of the amount over $38,700 Over $82,500 but not over $157,500$14,089.50+24% of the amount over $82,500 Over $157,500 but not over $200,000$32,089.50+32% of the amount over $157,500 Over $200,000 but not over $500,000$45,689.50+35% of the amount over $200,000 Over $500,000 $150,689.50+37% of the amount over $500,000 Filing status: Married filing jointly or Qualifying widow(er) Taxable income Tax At least $0 but not over $19,05010% of the amount over $0 Over $19,050 but not over $77,400$1,905+12% of the amount over $19,050 Over $77,400 but not over $165,000$8,907+22% of the amount over $77,400 Over $165,000 but not over $315,000$28,179+24% of the amount over $165,000 Over $315,000 but not over $400,00$64,179+32% of the amount over $315,000 Over $400,00 but not over $600,000$91,379+35% of the amount over $400,000 Over $600,000 $161,379+37% of the amount over $600,000 Filing status: Married filing separately Taxable income Tax At least $0 but not over $9,52510% of the amount over $0 Over $9,525 but not over $38,700$952.50+12% of the amount over $9,525 Over $38,700 but not over $82,500$4,453.50+22% of the amount over $38,700 Over $82,500 but not over $157,500$14,089.50+24% of the amount over $82,500 Over $157,500 but not over $200,000$32,089.50+32% of the amount over $157,500 Over $200,000 but not over $300,000$45,689.50+35% of the amount over $200,000 Over $300,000 $80,689.50+37% of the amount over $300,000 Filing status: Head of household Taxable income Tax At least $0 but not over $13,60010% of the amount over $0 Over $13,600 but not over $51,800$1,360+12% of the amount over $13,600 Over $51,800 but not over $82,500$5,944+22% of the amount over $51,800 Over $82,500 but not over $157,500$12,698+24% of the amount over $82,500 Over $157,500 but not over $200,000$30,698+32% of the amount over $157,500 Over $200,000 but not over $500,000$44,298+35% of the amount over $200,000 Over $500,000 $149,298+37% of the amount over $500,000 Filing status: Single Taxable income Tax At least $0 but not over $9,52510% of the amount over $0 Over $9,525 but not over $38,700$952.50+12% of the amount over $9,525 Over $38,700 but not over $82,500$4,453.50+22% of the amount over $38,700 Over $82,500 but not over $157,500$14,089.50+24% of the amount over $82,500 Over $157,500 but not over $200,000$32,089.50+32% of the amount over $157,500 Over $200,000 but not over $500,000$45,689.50+35% of the amount over $200,000 Over $500,000 $150,689.50+37% of the amount over $500,000 Filing status: Married filing jointly or Qualifying widow(er) Taxable income Tax At least $0 but not over $19,05010% of the amount over $0 Over $19,050 but not over $77,400$1,905+12% of the amount over $19,050 Over $77,400 but not over $165,000$8,907+22% of the amount over $77,400 Over $165,000 but not over $315,000$28,179+24% of the amount over $165,000 Over $315,000 but not over $400,00$64,179+32% of the amount over $315,000 Over $400,00 but not over $600,000$91,379+35% of the amount over $400,000 Over $600,000 $161,379+37% of the amount over $600,000 Filing status: Married filing separately Taxable income Tax At least $0 but not over $9,52510% of the amount over $0 Over $9,525 but not over $38,700$952.50+12% of the amount over $9,525 Over $38,700 but not over $82,500$4,453.50+22% of the amount over $38,700 Over $82,500 but not over $157,500$14,089.50+24% of the amount over $82,500 Over $157,500 but not over $200,000$32,089.50+32% of the amount over $157,500 Over $200,000 but not over $300,000$45,689.50+35% of the amount over $200,000 Over $300,000 $80,689.50+37% of the amount over $300,000 Filing status: Head of household Taxable income Tax At least $0 but not over $13,60010% of the amount over $0 Over $13,600 but not over $51,800$1,360+12% of the amount over $13,600 Over $51,800 but not over $82,500$5,944+22% of the amount over $51,800 Over $82,500 but not over $157,500$12,698+24% of the amount over $82,500 Over $157,500 but not over $200,000$30,698+32% of the amount over $157,500 Over $200,000 but not over $500,000$44,298+35% of the amount over $200,000 Over $500,000 $149,298+37% of the amount over $500,000 As a newly hired IRS trainee, you have been asked to calculate the amount of tax refund or tax owed for the taxpayer (in $ ). (Enter a positive value for the amount.)Step by Step Solution
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