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Use the Tax Rate Schedules to determine the tax liability for each of the following cases. a. Single taxpayer, taxable income of $25,842. b. Single
Use the Tax Rate Schedules to determine the tax liability for each of the following cases. a. Single taxpayer, taxable income of $25,842. b. Single taxpayer, taxable income of $55,542. c. Married taxpayers, who file a joint return, have taxable income of $28,955. d. Married taxpayers, who file a joint return, have taxable income of $69,012. e. Married taxpayers, who file a joint return, have taxable income of $23,633. f. Single taxpayer, taxable income of $89,718. Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. Tax liability a. b. C. d. e. f. 2021 Federal Income Tax Information 2021 Federal Tax Rate Schedules Schedule X-Single If taxable income is over: But not over: The tax is: 10% of taxable income $0 $9,950 $9,950 $40,525 $40,525 $86,375 $86,375 $164,925 $164,925 $209,425 $523,600 $209,425 $523,600 $995.00 plus 12% of the excess over $9,950 $4,664.00 plus 22% of the excess over $40,525 $14,751.00 plus 24% of the excess over $86,375 $33,603.00 plus 32% of the excess over $164,925 $47,843.00 plus 35% of the excess over $209,425 $157,804.25 plus 37% of the excess over $523,600 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: $0 But not over: $19,900 $19,900 $81,050 10% of taxable income $81,050 $172,750 $329,850 $418,850 $628,300 $172,750 $329,850 $418,850 $628,300 The tax is: $1,990.00 plus 12% of the excess over $19,900 $9,328.00 plus 22% of the excess over $81,050 $29.502.00 plus 24% of the excess over $172,750 $67.206.00 plus 32% of the excess over $329,850 $95,686.00 plus 35% of the excess over $418,850 $168,993.50 plus 37% of the excess over $628,300 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $0 $9,950 10% of taxable income $9,950 $40,525 $40,525 $86,375 $86,375 $164,925 $164,925 $209,425 $314,150 $209,425 $314,150 Schedule Z-Head of Household The tax is: $995.00 plus 12% of the excess over $9.950 $4,664.00 plus 22% of the excess over $40,525 $14,751.00 plus 24% of the excess over $86,375 $33,603.00 plus 32% of the excess over $164,925 $47,843.00 plus 35% of the excess over $209,425 $84,496.75 plus 37% of the excess over $314,150 If taxable. income is over: But not over: $0 $14,200 $14,200 $54,200 $54,200 $86,350 $86.350 $164.000 10% of taxable income The tax is: $1,420.00 plus 12% of the excess over $14,200 $6,220.00 plus 22% of the excess over $54,200 $12.202.00 plus 24% of the arcate our $86.350 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $0 $9,950 10% of taxable income $9,950 $40,525 $40,525 $86,375 $86,375 $164,925 $164,925 $209,425 $209,425 $314,150 $314,150 - Schedule Z-Head of Household If taxable income is over: But not over: $0 $14,200 $14,200 $54,200 $54,200 $86,350 $86,350 $164,900 $164,900 $209,400 $523,600 $209,400 $523,600 The tax is: $995.00 plus 12% of the excess over $9,950 $4,664.00 plus 22% of the excess over $40,525 $14,751.00 plus 24% of the excess over $86,375 $33,603.00 plus 32% of the excess over $164,925 $47,843.00 plus 35% of the excess over $209,425 $84,496.75 plus 37% of the excess over $314,150 10% of taxable income The tax is: $1,420.00 plus 12% of the excess over $14,200 $6,220.00 plus 22% of the excess over $54,200 $13,293.00 plus 24% of the excess over $86,350 $32,145.00 plus 32% of the excess over $164,900 $46,385.00 plus 35% of the excess over $209,400 $156,355.00 plus 37% of the excess over $523,600
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