The following information relates to two married couples: IA (Click the icon to view the information.) (Click the icon 2 (Click the icon Read the requirement. Begin by computing taxable income for each couple. (Complete all input fields. Enter "O" for accounts with a zero balance.) Falzones Jones Taxable income Falzones Jones Salary (earned by one spouse) 44,000 $ Taxable interest income Deductible IRA contribution 0 120,000 900 6,000 27,000 8,000 Itemized deductions 1,100 800 Withholding Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,400 .................. 10% of taxable income. Over $19,400 but not over $78,950 ..... $1,940.00 + 12% of the excess over $19,400. Over $78,950 but not over $168,400 .... $9,086.00 + 22% of the excess over $78,950. Over $168,400 but not over $321,450 ... $28,765.00 + 24% of the excess over $168,400. Over $321,450 but not over $408,200 ... $65,497.00 + 32% of the excess over $321,450. Over $408,200 but not over $612,350 ... $93,257.00 + 35% of the excess over $408,200. Over $612,350 ....................$164,709.50 + 37% of the excess over $612,350. $ $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. 24,400 18,350 12,200 12,200 $1,300* $1,650* * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind