This table shows the U.S. federal income tax rates from 2017. (Source: Internal Revenue Service) Single...
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This table shows the U.S. federal income tax rates from 2017. (Source: Internal Revenue Service) Single Married Filing Jointly Married Filing Separately Head of Household $0-$9,325 $0-$18,650 $0-$9,325 $0-$13,350 $9,325-$37,950 $18,650-$75,900 $9,325-$37,950 $13,350-$50,800 $50,800-$131,200 $131,200-$212,500 25% $37,950-$91,900 $75,900-$153,100 $37,950-$76,550 28% $91,900-$191,650 $153,100-$233,350 $76,550-$116,675 33% $191,650-$416,700 $233,350-$416,700 $116,675-$208,350 $208,350-$235.350 $212,500-$416,700 35% $416,700-$418.400 $416,700-$470,700 Over $470,700 $416,700-$444,550 Over $444,550 Over $235.350 39,6% Over $418,400 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 $9,325, 15% tax on the amount over $9,325 up to $37,950, and 25% on the amount over $37,950 up to $40,000. Rate 10% 15% If Justin and Amanda had a filing status of Married Filing Jointly and together have a taxable income of $115,377 in the year 2017, how much did the couple owe for federal income tax? Do not round any intermediate computations. Round your answer to the nearest dollar. X This table shows the U.S. federal income tax rates from 2017. (Source: Internal Revenue Service) Single Married Filing Jointly Married Filing Separately Head of Household $0-$9,325 $0-$18,650 $0-$9,325 $0-$13,350 $9,325-$37,950 $18,650-$75,900 $9,325-$37,950 $13,350-$50,800 $50,800-$131,200 $131,200-$212,500 25% $37,950-$91,900 $75,900-$153,100 $37,950-$76,550 28% $91,900-$191,650 $153,100-$233,350 $76,550-$116,675 33% $191,650-$416,700 $233,350-$416,700 $116,675-$208,350 $208,350-$235.350 $212,500-$416,700 35% $416,700-$418.400 $416,700-$470,700 Over $470,700 $416,700-$444,550 Over $444,550 Over $235.350 39,6% Over $418,400 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 $9,325, 15% tax on the amount over $9,325 up to $37,950, and 25% on the amount over $37,950 up to $40,000. Rate 10% 15% If Justin and Amanda had a filing status of Married Filing Jointly and together have a taxable income of $115,377 in the year 2017, how much did the couple owe for federal income tax? Do not round any intermediate computations. Round your answer to the nearest dollar. X
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Justin and Amanda filed their taxes Married Filing Jointly in 2017 ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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