Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

USA ACT 1 Alioune, who is single, has taxable income of $100,000. $10,000 tax was withheld from his salary and he made no estimated tax

USA ACTimage text in transcribed

1 Alioune, who is single, has taxable income of $100,000. $10,000 tax was withheld from his salary and he made no estimated tax payments. How much tax does Alioune have to pay to the IRS/U.S. Treasury? Use the applicable tax schedule (not tax table) to compute; the line on the tax schedule for his taxable income group and filing status is: $14,751.00, plus 24% of the excess of taxable income over $86,375

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

Step: 3

blur-text-image

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

Financial Accounting For Undergraduates

Authors: Wallace

4th Edition

1618533088, 9781618533081

More Books

Students also viewed these Accounting questions

Question

What is the formula for computing a Pearson residual?

Answered: 1 week ago

Question

DO CONTRACT WORKERSGETTHE SAME ENTITLEMENTS AS EMPLOYEES?

Answered: 1 week ago

Question

2.5 Describe the purpose of employment equity programs.

Answered: 1 week ago