Assignment Topic:

Using the tax form, instructions and info attached, answer the following questions.

1. Assume you are a single person with no dependents who made $35,000.00from your primary job and an additional $5,500.00 from a part time position.You had a total of $7,700 dollars withheld in taxes (from both jobs combined) and will take the standard deduction.
2. Will you get a refund or will you have to pay more tax?(5 pts.)
3. What is the amount of the refund/payment?(5 pts.)

1. Using the tax tables on page 90 of the instructions, assume a single person has a taxable income of $382,000.00.
2. What will the single person's total tax be?(5 pts.)
3. What is the single person's effective tax rate?(5 pts.)

Submission Format:

1. The length of your response is conditional on the question. Answer fully, but concisely.
2. Your submissions should be submitted via the assignment dropbox in .doc or .docx format, using 12 pt font and double spacing.
3. Late submissions will not be accepted, absent documented circumstances that made submission impossible.

Attachments:

2016 1040 Instructions.pdf

2016 Form 1040.pdf