Question

Using the tax table in Exhibit 4-7, determine the amount of taxes for the following situations:

1. A head of household with taxable income of $75,751.00
2. A single person with taxable income of $75, 052.00
3. A married person filing a separate return with taxable income of $75,926.00
   EXHIBIT 4-7 Tax tables and tax rate schedules Tax Table If line 43 (taxable income) is- And you are Tax Rate Schedules But Single least less than Married Married Head of filing filing jointly sepa house- rately hold 75,000 14 613 Your tax is- Schedule Y-1 - If your filing status is Married filing jointly or Qualifying widow(er) If your taxable The tax is: income is: of the But not 75,000 75,050 74,550 10.344 14,550 13,079 amou 75,100 14 563 Over- 10.356 14,563 13,091 over- over- 75,100 75,150 14.575 10.369 14,575 13,104 75,150 75,200 14 588 10.381 14,588 13,116 $0 18,450 ..... 10% 75,200 75,250 14,600 10.394 14,600 13,129 18,450 74,900 $1,845 + 15% 18,4 75,250 75,300 10,406 14,613 13,141 74,900 151,200 75,300 75,350 14,625 10,419 14,625 13,154 10,312.50 + 25% 74,96 75,350 75,400 14.638 10.431 14.638 13,166 151,200 230,450 29,387.50 + 28% 75,400 75,450 14.650 10,444 14.650 13,179 75,450 75,500 14,663 10,456 14,663 13,191 230,450 411,500 51,577.50 + 33% 230,4 75,500 75,550 14.675 10,469 14 675 13,204 411,500 464,850 111,324 + 35% 75,550 75,600 14.688 10,481 14,688 13,216 411,56 75,600 75,650 14.700 10.494 14,701 13,229 464,850 129,996.50 + 39.6% 75,650 75,700 14.713 10,506 14,715 13,241 464,8! 75,700 75,750 14,725 10,519 14,729 13,254 Use only if your taxable income (Form 1040, line 43) is $100,000 or m 75,750 75,800 14,738 10.531 14,743 13.256 If less, use the Tax Table Even though you cannot use the Tax Rate Schedi 75,800 75,850 14,750 10,544 14,757 13.279 75,850 75,900 14,763 10.556 14,771 13 281 below if your taxable income is less than $100,000, all levels of taxa 75,900 75,950 14,775 10,569 CAUTION 14,785 13,304 income are shown so taxpayers can see the tax rate that applies to each le 75,950 76,000 14.788 10,581 14,799 13,316 • This column must also be used by a qualifying widowier). 151,2 hanges in the tax code and adjustments for inflation. Obtain Note: These were the federal income tax rates for a recent year. Current rates may vary due to changes in the tax code and a income tax booklets from your local IRS office, post office, bank, public library, or at www.irs.gov, AP Photo/Paul Sakuma Source: AP Photo/Paul Sakuma.
   

Answer 1

Part (a)

A head of household with taxable income of $75,751.00

Please check the range greater than 75,750 but less than 75,800. Then check the last column with title "Head of a household".

The tax figure is 13,266. This should be your answer.

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Part (b)

A single person with taxable income of $75,052.00

This time, look at the column titled Single.

The figure is 14,738

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Part (c)

A married person filing a separate return with taxable income of $75,926.00

The falls in the range of 75,900 to 75,926

Look at the column titled Married filing separately.

The figure is 14,785. This should be the answer.