2.5: Federal Income Taxes Calculate the values for each household and determine the amount they owe or will be refunded. Use the 2022 tax tables provided in the class video notes for this section. They can also be found on the last page of this assignment. 2022 Tax Year Dakota and Avery (no children) Letitia (2 children) Joshua (3 children) Filing Status Married Filing Jointly Single (Single means she is not claiming her kids on her return, another parent is) Head of Household Adjusted Gross Income $93,700 $42,600 $38,200 Itemized Deductions $17,200 $5,700 $7,800 Standard Deduction Should they take the standard or itemized deduction? Taxable Income Taxes Calculation using Tax Bracket Table Tax Credits $0 $426 $2,049 Tax Amount after Credits Federal Taxes Withheld $14,570 $4,230 $3,850 Federal Tax Owed or Refund