Question: Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their fling status, For example, suppose a taxpayer has

Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their fling status, For example, suppose a taxpayer has a fling status of single and a taxable income of $40,000. This means that the taxpayer owes 10%6 tax on the first $9,075,15%6 tax on the amount over $9,075 up to $36,900, and 25% on the amount over $36,900 up to $40,000. 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 fling status of Single and a taxable income of $40,000. This means that the taxpayer owes 10% tax on the first $9,075,15% tax on the amount over $9,075 up to $36,900, and 25% on the ampunt over $36,900 up to $40,000. If Elsa had a filing status of Married Fling Separately and a taxable income of $100,586 in the year 2014, how much did she owe for federal income tax? Do not round any intermediate computations. Round your answer to the nearest dollar. $25,535.73
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
