Sheila, a single taxpayer, is a retired computer executive with a taxable income of $95,700 in 2020. She receives $33,800 per year in tax-exempt municipal bond interest. Adam and Tanya are married and have no children. Adam and Tanya's 2020 taxable income is $95,700 which is comprised solely of wages they earn from their jobs. Refer to the tax rate schedule for calculations. Do not round intermediate computations. Round your final answers to two decimal places. Assume that Adam and Tanya file jointly. Sheila's tax is $ . Adam and Tanya's tax is $ . The difference in the tax rate schedules for single and married taxpayers reflects the greater ability to pay tax by single taxpayers at the same income level as married taxpayers. The tax rate structures do reflect the ability-to-pay concept.

ge Week X cover X G how to x S Tax REX e MyEd x Sleep x Sleep x M Inbox X + # 7.com | Get H x | Sheila x Cenga x File /Users/rachelgee/Documents/School/Tax%20Rate.pdf C 2020 INDIVIDUAL TAX RATE SCHEDULES Table B-1 Single Taxpayers If Taxable income Is Over $ 0 9,875 40,125 85,525 163,300 207,350 518.400 But Not Over 9,875 40,125 85,525 163,300 207,350 518,400 The Tax Is 10% $ 987.50 + 12% 4,617.50 + 22% 14,605.50 +24% 33,271.50 + 32% 47,367.50 + 35% 156,235.00 + 37% of the Amount Over $ $ 0 9,875 40,125 85,525 163,300 207,350 518,400 Table B-2 Married Taxpayers Filing Jointly and Surviving Spouse But Not Over The Tax Is If Taxable income Is Over $ 0 19,750 80,250 171,050 326,600 414,700 622,050 19,750 80,250 171,050 326,600 414,700 622,050 10% $ 1,975.00 + 12% 9,235.00 +22% 29,211.00 +24% 66,543.00 + 32% 94,735.00 + 35% 167,307.50 + 37% of the Amount Over $ 0 19,750 80,250 171,050 326,600 414,700 622,050 Table B-4 Married Taxpayers, Filing Separately is Week X cover X * 7 com C Get H X C Sheila x Ceng x G how tox S Tax REX e MyEd x Sleep x Sleep x MInbox X + C File /Users/rachelgee/Documents/School/Tax%20Rate.pdf Tax Rate.pdf 1/1 518.400 207,350 518,400 47,367.50 + 35% 156,235.00 + 37% 207,350 518,400 Table B-2 Married Taxpayers Filing Jointly and Surviving Spouse The Tax is If Taxable income Is Over $ 0 19,750 80,250 171,050 326,600 414,700 622,050 But Not Over 19,750 80,250 171,050 326,600 414,700 622,050 10% $ 1,975.00 + 12% 9.235.00 + 22% 29,211.00 +24% 66,543.00 + 32% 94,735.00+ 35% 167,307.50 + 37% of the Amount Over $ 0 19,750 80,250 171,050 326,600 414,700 622,050 Table B-4 Married Taxpayers, Filing Separately If Taxable income Is Over $ 0 9,875 40,125 85,525 163,300 207,350 311,025 But Not Over 9,875 40,125 85,525 163,300 207,350 311,025 The Tax is 10% $ 987.50 + 12% 4,617.50 +22% 14,605.50 +24% 33,271.50 + 32% 47,367.50 + 35% 83,653.75 + 37% of the Amount Over $ 0 9,875 40,125 85,525 163,300 207,350 311,025 +