Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This table shows the U.S. federal income tax rates from 2015. (Source: Internal Revenue Service) Rate Single Married Filing Jointly Married Filing Separately Head of

This table shows the U.S. federal income tax rates from 2015. (Source: Internal Revenue Service)

Rate Single Married Filing Jointly Married Filing Separately Head of Household
10%

$0

-

$9,225

$0

-

$18,450

$0

-

$9,225

$0

-

$13,150

15%

$9,225

-

$37,450

$18,450

-

$74,900

$9,225

-

$37,450

$13,150

-

$50,200

25%

$37,450

-

$90,750

$74,900

-

$151,200

$37,450

-

$75,600

$50,200

-

$129,600

28%

$90,750

-

$189,300

$151,200

-

$230,450

$75,600

-

$115,225

$129,600

-

$209,850

33%

$189,300

-

$411,500

$230,450

-

$411,500

$115,225

-

$205,750

$209,850

-

$411,500

35%

$411,500

-

$413,200

$411,500

-

$464,850

$205,750

-

$232,425

$411,500

-

$439,000

39.6%

Over

$413,200

Over

$464,850

Over

$232,425

Over

$439,000

Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their filing status. For example, suppose a taxpayer has a filing status of Single and a taxable income of

$40,000. This means that the taxpayer owes 10% tax on the first $9,225, 15% tax on the amount over $9,225 up to $37,450 ,and 25% on the amount over $37,450 up to $40,000

If Tammy had a filing status of Head of Household and a taxable income of

$112,605 in the year 2015, how much did she owe for federal income tax?

Do not round any intermediate computations. Round the answer to the nearest dollar.

$

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Reading, Writing, And Proving A Closer Look At Mathematics

Authors: Ulrich Daepp, Pamela Gorkin

2nd Edition

1441994793, 9781441994790

More Books

Students also viewed these Mathematics questions

Question

What is the meaning of margin of safety?

Answered: 1 week ago