T THE SAMPSONS-A Continuing Case Dave and Sharon Sampson want to determine their taxes for the current year. Dave will earn $48,000 this year, while Sharon's earnings from her part-time job will be $12,000. Neither Dave nor Sharon contributes to a retirement plan at this time. Recall that they have two children. Assume child tax credits are currently $1,000 per child. The Sampsons will pay $6,300 in home mortgage interest and $1,200 in real estate taxes this year, and they will make charitable contributions of $600 for the year. The Sampsons are filing jointly. Go to the worksheets at the end of this chapter to continue this case. CHAPTER 4: THE SAMPSONS-A Continuing Case CASE QUESTIONS 1. Help the Sampsons estimate their federal income taxes for this year by filling in the following worksheet. Gross Income Retirement Plan Contribution Adjusted Gross Income Deductions Interest Expense Real Estate Taxes Contributions Exemptions ($4,000 each) Taxable income Tax Liability before Tax Credits Child Tax Credit(s) Tax Liability 2. The Sampsons think that it will be very difficult for them to pay the full amount of their taxes at this time. Consequently, they are thinking about underreporting their actual income on their tax return. What would you tell the Sampsons in response to this idea