Question

Compute the 2020 tax liability and the marginal and average tax rates for the following taxpayers.

Click here to access the 2020 tax rate schedule. If required, round the tax liability to the nearest dollar. When required, round the average rates to four decimal places before converting to a percentage (i.e. .67073 would be rounded to .6707 and entered as 67.07%).

a. Chandler, who files as a single taxpayer, has taxable income of $94,800.

Tax liability:	$
Marginal rate:		%
Average rate:		%

b. Lazare, who files as a head of household, has taxable income of $57,050.

Tax liability:	$
Marginal rate:		%
Average rate:		%

Answer 1

solution- Trable Income 94800 Single Pudividual, year 2010 calculation of fax liability (14 605.5+ (qu&uo_85525) 249 )) 16832 (Round off) Marginal Tax rate is 247 Average rate - Total federal Tan Total Income 16832 qu800 17.750 Tonable Income 570so calculation of faxliability 6899 [6162 + (57050-5000) 22:] marginal Tax rate is 227. Total federal Tan Total Income 6899 12.09% Average rate 57050