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Ms. Gomez earned a $91,250 salary, and Mr. Hill earned a $171,000 salary. Neither individual had any other income, and neither can itemize deductions.Assume the

Ms. Gomez earned a $91,250 salary, and Mr. Hill earned a $171,000 salary. Neither individual had any other income, and neither can itemize deductions.Assume the taxable year is 2020. UseIndividual Tax Rate SchedulesandStandard Deduction Table.

  1. Required:Compute Ms. Gomez and Mr. Hill's combined tax if they file as single individuals.

the tax items for tax year 2020 of greatest interest to most taxpayers include the following dollar amounts:

  • The standard deduction for married filing jointly rises to $24,800 for tax year 2020, up $400 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $12,400 in for 2020, up $200, and for heads of households, the standard deduction will be $18,650 for tax year 2020, up $300.

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If taxable Income Is: The tax Is: Not over $9,875 10% of taxable income Over $9,875 but not over $40, 125 $987.50 + 12% of excess over $9,875 Over $40,125 but not over $85,525 $4,617.50 + 22% of excess over $40,125 Over $85,525 but not over $163,300 $14,605.50 + 24% of excess over $85,525 Over $163,300 but not over $207,350 $33,27 1.50 + 32% of excess over $ 163,300 Over $207,350 but not over $31 1,025 $47,367.50 + 35% of excess over $207,350 Over $311,025 $83,653.75 + 37% of excess over $311,025 Heads of Household If taxable Income Is: The tax Is: Not over $14,100 10% of taxable income Over $14,100 but not over $53,700 $1,410 + 12% of excess over $14, 100 Over $53,700 but not over $85,500 $6, 162 + 22% of excess over $53,700 Over $85,500 but not over $163,300 $13,158 + 24% of excess over $85,500 Over $163,300 but not over $207,350 $31,830 + 32% of excess over $163,300 Over $207,350 but not over $518,400 $45,926 + 35% of excess over $207,350 Over $518,400 $154,793.50 + 37% of excess over $518,400 Single If taxable Income Is: The tax Is: Not over $9,875 10% of taxable income Over $9,875 but not over $40,125 Over $40, 125 but not over $85,525 $987.50 + 12% of excess over $9,875 Over $85,525 but not over $ 163,300 $4,617.50 + 22% of excess over $40, 125 Over $163,300 but not over $207,350 $14,605.50 + 24% of excess over $85,525 Over $207,350 but not over $518,400 $33,27 1.50 + 32% of excess over $163,300 Over $518,400 $47,367.50 + 35% of excess over $207,350 $156,235 + 37% of excess over 518,400 MacBook 4 5 6 9 O R T Y U O F G H K V B N M

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