nd will file a joint tax return. Havel has W-2 income of $38,924, and Petra has W-2 income of $49,729. Use the appropriate Tax Tables and Tax Rate Schedules.

1)Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? (Round your answers to 2 decimal places.)Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule).2)If Jorge and Anita earn an additional $100,000 of taxable income, what is their marginal tax rate on this income?b.What is their marginal rate if, instead, they report an additional $100,000 in deductions?

Required: Determine the amount of average income tax liability per tax return, for each income range provided, using the information in the below table. Taxable income and Total Tax Liability are in thousands. Note: Enter your answers in whole dollars and not in thousands. Round the final answers to the nearest dollar value. Iten Number of returns Taxable income Total tax liability Average tax rates Under $15.000 Under $15,000 $15,000 to under $30,000 $30,000 to under $50,000 $50,000 to under $100,000 $100,000 to under $200,000 $200,000 or more 39,270,202 $6,939,029 $ 778,132 11.21N "The average tax rate is total tax liability divided by taxable income. S S $ $ $ $ Ranges of Adjusted Gross Income $30,000 to under $50,000 20 542 1,826 5,225 14,280 90.816 $15,000 to under $30,000 27,391,909 $ 192,903,768 $ 14,791,011 7.67% 27,233,637 $ 604,359,808 $50,210,871 8.31% $50,000 to under $100,000 34,641,449 $1,753,762,416 $ 106,213,777 10.62% $100,000 to under $200,000 21,113,838 $ 2,304,555,…

Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $38,840, and Petra has W-2 income of $49,642.   Use the appropriate Tax Tables and Tax Rate Schedules.   Required:   What is their tax liability using the Tax Tables? What is their tax liability using the Tax Rate Schedule? Note: Round your intermediate computations and final answers to 2 decimal places.

Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of a household with a taxable income of $62,000. b. A single person with a taxable income of $37,800. c. Married taxpayers filing jointly with taxable income of $73,400

Use the marginal tax rates in the table below to compute the tax owed in the following situation. Winona and Jim are married filing jointly, with a taxable income of $332,000. They are entitled to a $7000 tax credit. Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard deduction Exemption (per person) Married Filing Jointly up to $18,650 up to $75,900 up to $153,100 up to $233,350 up to $416,700 up to $470,700 above $470,700 $12,700 $4050 The tax owed is $. (Type an integer or a decimal.)

Jorge and Anita, married taxpayers, earn $163,600 in taxable income and $43,400 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule for married filling jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Federal tax Average tax rate Effective tax rate Marginal tax rate % % 22 %

The 2020 Arizona graduated tax rate is given in the table below for those filing status is single or married filing separate. To use this table you will calculate the amount of money to be taxed at each level and then sum up the amount for each given tax rate. Find the income tax for a person filing single and has a taxable income reported as $81,600. Round your answer to the nearest whole dollar amount. Proper units on worksheet but: Do not include the $ sign in your answer here.  Income Tax Rate The income between $0 and $27,272 2.59% The income between $27,272 and $54,544 3.34% The income between $54,544 and $163,632 4.17% The income above $163,632 4.50%

Determine the amount of tax liability in each of the following instances: Use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000. Required: A married couple filing jointly with taxable income of $33,453. A married couple filing jointly with taxable income of $202,771. A married couple filing separately, one spouse with taxable income of $44,347 and the other with $56,687. A single person with taxable income of $79,898. A single person with taxable income of $313,471. A head of household with taxable income of $97,054. A qualifying widow with taxable income of $14,488. A married couple filing jointly with taxable income of $11,685.

David and Lilly Fernandez have determined their tax liability on their joint tax return to be $3,100. They have made prepayments of $1,900 and also have a child tax credit of $2,000. What is the amount of their tax refund or taxes due?