Question
Robert and John are married and have 3 dependent children and earn a gross biweekly salary of $5,346. They will also make the following tax-deductible
Robert and John are married and have 3 dependent children and earn a gross biweekly salary of $5,346. They will also make the following tax-deductible purchases: Medical expenses: $6,869 Educational expenses: $6,862 When they file their taxes jointly, what will their tax refund be?
Use the following information: Standard deduction for married couples: $25,100 Biweekly allowance: $165.38 per person
For your final answer proceed as: Annual Income Tax to be payed or refunded = Total Annual Withholding - Final Income Tax. If the couple has to pay the government, type the number with a negative sign. For example, -325. If the couple has to receive a refund from government, type the number without sign. For example, 325. Round your answer to the nearest dollar.
2021 Married Individuals Filing Joint Returns and Surviving Spouses \begin{tabular}{|c|c|} \hline If Taxable Income is Between: & The Tax Due is: \\ \hline$0$19,900 & 10% of taxable income \\ \hline$19,901$81,050 & $1,990 plus 12% of the amount over $19,900 \\ \hline$81,051$172,750 & $9,328 plus 22% of the amount over $81,050 \\ \hline$172,751$329,850 & $29,502 plus 24% of the amount over $172,750 \\ \hline$329,851$418,850 & $67,206 plus 32% of the amount over $329,850 \\ \hline$418,851$628,300 & $95,686 plus 35% of the amount over $418,850 \\ \hline$628,301 or more & $168,993.50 plus 37% of the amount over $628,300 \\ \hline \end{tabular} 2021 Married Person Biweekly Withholding Table \begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ Taxable Wages } & \multicolumn{1}{c|}{ Wages Withholding } \\ \hline$0$483 & $0.00 \\ \hline$483$865 & $0.00 plus 10% of amount exceeding $483 \\ \hline$865$2,041 & $38.20 plus 12% of amount exceeding $865 \\ \hline$2,041$3,805 & $179.32 plus 22% of amount exceeding $2,041 \\ \hline$3,805$6,826 & $567.40 plus 24% of amount exceeding $3,805 \\ \hline$6,826$8,538 & $1,292.44 plus 32% of amount exceeding $6,826 \\ \hline$8,538$12,565 & $1,840.28 plus 35% of amount exceeding $8,538 \\ \hline$12,565 or more & $3,249.73 plus 37% of amount exceeding $12,565 \\ \hline \end{tabular}
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