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Based on the following data, will Ann Wilton receive a federal tax refund or owe additional taxes in 2019? (Input the amount as a positive
Based on the following data, will Ann Wilton receive a federal tax refund or owe additional taxes in 2019? (Input the amount as a positive value. Round your intermediate calculations and final answer to 2 decimal places. Omit the "$" sign in your response.)
Taxable Income | Tax Rate |
0$47,630 | 15% |
$47,630$95,259 | 20.5% |
$95,259$147,667 | 26% |
$147,667$210,371 | 29% |
Employment income | $ | 68,190 |
Deductions to determine net income | $ | 11,320 |
Federal income tax withheld | $ | 8,784 |
Basic exemption tax credit | $ | 13,069 |
Student loan interest tax credit | $ | 1,300 |
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