A married couple with two children has earned income of $30,000 with no withholding. Assume they have
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A married couple with two children has earned income of $30,000 with no withholding.
Assume they have a taxable income of $100, they paid $2,295 in FICA taxes, and they will receive an earned income credit of $3,939.
Their tax on $100 is $10. What is the amount of their income tax liability?
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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