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In Exercises 23, 25, and 27, use the 2021 marginal tax rates to compute the tax owed by the person or couple with the given
In Exercises 23, 25, and 27, use the 2021 marginal tax rates to compute the tax owed by the person or couple with the given filing status, taxable income, and tax credit.
Tax rate | Single | Head of household | Married filing jointly or qualifying widow | Married filing separately |
---|---|---|---|---|
10% | $0 to $9,950 | $0 to $14,200 | $0 to $19,900 | $0 to $9,950 |
12% | $9,951 to $40,525 | $14,201 to $54,200 | $19,901 to $81,050 | $9,951 to $40,525 |
22% | $40,526 to $86,375 | $54,201 to $86,350 | $81,051 to $172,750 | $40,526 to $86,375 |
24% | $86,376 to $164,925 | $86,351 to $164,900 | $172,751 to $329,850 | $86,376 to $164,925 |
32% | $164,926 to $209,425 | $164,901 to $209,400 | $329,851 to $418,850 | $164,926 to $209,425 |
35% | $209,426 to $523,600 | $209,401 to $523,600 | $418,851 to $628,300 | $209,426 to $314,150 |
37% | $523,600 or more | $523,600 or more | $628,300 or more | $314,151 or more |
23.) single with a taxable income of $17,000 and a $2500 tax credit
25.) married filing jointly with a taxable income of $250,000 and a $7500 tax credit
27.) head of household with a taxable income of $78,000 and a $6500 tax credit
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