you are given taxable income not AGI NAME: Lenzos, M TAXABLE INCOME: $90,131 Federal income tax with

you are given taxable income not AGI

NAME: Lenzos, M

TAXABLE INCOME: $90,131

Federal income tax withheld from checks : $ 1187.33 monthly

what is the tax Refund or tax due ( please explain to me so I can understand for the final ) Find the amount of taxable income and the tax owed. The letter following the name indicates the marital status, and all married people are filing jointly. Use $3700 for each personal exemption; a standard deduction of $5800 for single people, $11,600 for married people filing jointly, $5800 for married people filing separately, and $8500 for head of a household; and the following tax rate schedule. 2011 Tax Rate Schedules The tax is: of the amount over Schedule X-If your filing status is Single If your taxable income is: But not Over- Over $8,500 8,500 34,500 34,500 83,600 83,600 174,400 174,400 379,150 379,150 So – 10% $850.00 + 15% 4,750.00 + 25% 17,025.00 +28% 42,449.00 + 33% 110,016.50 + 35% 8,500 34,500 83,600 174,400 379,150 Schedulo Y-1 – If your filing status is Married filing jointly or Qualifying widow(or) If your taxable The tax is: income is: of the But not amount Over- Over- over- So $17,000 17,000 69,000 $1,700.00 + 15% 17,000 69,000 139,350 9,500.00 + 25% 69,000 139,350 212,300 27,087.50 + 28% 139,350 212,300 379,150 47,513.50 +33% 212,300 379,150 102,574.00 + 35% 379,150 — 10% Schedule Y-2-If your filing status is Married filing separately If your taxable The tax is: income is: of the But not amount Over- over- over $8,500 10% 8,500 34,500 $850.00 + 15% 8,500 34,500 69,675 4,750.00 + 25% 34,500 69,675 106,150 13,543.75 + 28% 69,675 106,150 189,575 23,756.75 + 33% 106,150 189,575 51,287.00 + 35% 189,575 Points: 2 45) Number of Adjusted Total Taxable Tax Name Exemptions Gross Income Deductions Income Owed The Edwards, M 2 $100,792 $11,630

 

Looking for a Similar Assignment? Hire our Top Techical Tutors while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Active Discount Code FREE15