Molly earns a gross yearly salary of $159,231. She has no dependent children and made the following tax deductible purchases: Charitable contributions: $6,685 Student loan interest: $646 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: $12400 Individual Taxpayers If Taxable income Is Between: The Tax Due is: 0 - $9,875 10% of taxable income $9,876- $40,125 $987.50 + 12% of the amount over $9,875 $40,126 - $85,525 $85,526 - $163,300 $163,301 - $207,350 $207,351 - $518,400 $4,617.50 + 22% of the amount over $40,125 $14,605.50 +24% of the amount over $85,525 $33,217.50 +32% of the amount over $163,300 $47,367.50 + 35% of the amount over $207,350 $156,235 +37% of the amount over $518,400 $518,400 Biweekly allowance: $165.38 per person. 2020 Single Person Biweekly Withholding Table Taxable Wages Wages Withholding $0 - $238 $0.00 $238 - $428 $0.00 plus 10% of amount exceeding $238 $428 - $1,010 $19.00 plus 12% of amount exceeding $428 $1,010 - $1,883 $88.84 plus 22% of amount exceeding $1,010 $1,883 - $3,379 $280.90 plus 24% of amount exceeding $1,883 $3,379 - $4,226 $639.94 plus 32% of amount exceeding $3,379 $4,226 - $10,208 $910.98 35% of amount exceeding $4,226 $10,208 or more $3,004.68 plus 37% of amount exceeding $10,208 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. Molly earns a gross yearly salary of $159,231. She has no dependent children and made the following tax deductible purchases: Charitable contributions: $6,685 Student loan interest: $646 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: $12400 Individual Taxpayers If Taxable income Is Between: The Tax Due is: 0 - $9,875 10% of taxable income $9,876- $40,125 $987.50 + 12% of the amount over $9,875 $40,126 - $85,525 $85,526 - $163,300 $163,301 - $207,350 $207,351 - $518,400 $4,617.50 + 22% of the amount over $40,125 $14,605.50 +24% of the amount over $85,525 $33,217.50 +32% of the amount over $163,300 $47,367.50 + 35% of the amount over $207,350 $156,235 +37% of the amount over $518,400 $518,400 Biweekly allowance: $165.38 per person. 2020 Single Person Biweekly Withholding Table Taxable Wages Wages Withholding $0 - $238 $0.00 $238 - $428 $0.00 plus 10% of amount exceeding $238 $428 - $1,010 $19.00 plus 12% of amount exceeding $428 $1,010 - $1,883 $88.84 plus 22% of amount exceeding $1,010 $1,883 - $3,379 $280.90 plus 24% of amount exceeding $1,883 $3,379 - $4,226 $639.94 plus 32% of amount exceeding $3,379 $4,226 - $10,208 $910.98 35% of amount exceeding $4,226 $10,208 or more $3,004.68 plus 37% of amount exceeding $10,208 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
