Homework Answers
Sheniqua - Single Taxpayer
Year - 2020 (nothing was given)
Taxable Income = $80,398
Tax liability = ($9,875 * 10%) + [($40,125 - $9,875) * 12%] + [($80,398 - $40,125) * 22%]
= $987.5 + $3,630 + $8,860.06
= $13,477.56
= $13,478 (rounded off to nearest whole dollar)
| Taxable Income | $80,398 |
| Tax liability | $13,478 |
| Less: Tax Withheld | ($13,249) |
| ADDITIONAL TAX (tax due) | $229 |
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