Determine the tax liability for tax year 2021 In each of the following Instances. In each case, assume the taxpayer can take only the standard deduction. Use the appropriate Tax Tables and Tax Rate Schedules. a. A single taxpayer, not head of household, with AGI of $24,793 and one dependent. b. A single taxpayer, not head of household, with AGI of $189,309 and no dependents. Note: Round your Intermediate computations to 2 decimal places and final answer to the nearest dollar amount. c. A married couple filling Jointly with AGI of $41,245 and two dependents. d. A married couple filing jointly with AGI of $163,588 and three dependents

SWFT Essntl Tax Individ/Bus Entities 2020
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Chapter9: Individuals As Taxpayers
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4. . C erto-cf-tnedia.mheducation.com/Medis/Chpnect Production/
2021 Federal Tax Rate Schedules
Schedile X-Single
If tarable
income is over:
But not over:
The tax is:
SO
$9,950
$40,525
$86,375
$164,925
$209 425
$523.600
$9.950
$40 525
$86,375
$164,925
$209 425
$523,600
10% of taxable income
$995.00 plus l2% of the excesS over $9,950
$4,664.00 plus 22% of the excess over $40,525
$14,751.00 plus 24% of the excess over $86,375
$33,603.00 plus 32% of the excess over $164,925
$47,843.00 plus 35% of the excess over $209,425
$157,804.25 plus 37% of the excess over $523,600
Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)
If tarable
income is over:
$0
$19,900
$81,050
$172,750
$329,850
$418,850
$625 300
But not over:
The tax is:
$19,900
$81,050
$172,750
$329,850
$418,850
$628,300
10% of taxable income
$1,990.00 plus 12% of the excess over $19,900
$9,328.00 plus 22% of the excess over $81,050
$29,502.00 plus 24% of the excess over $172,750
$67,206.00 plus 32% of the excess over $329,850
$95,686.00 plus 35% of the excess over $418,850
$168,993.50 plus 37% of the excess over $628,300
Schedule Y-2-Married Filing Separately
If taxable
income is over:
$0
$9,950
$40,525
$86.375
$164,925
3209,425
5314,150
But not over:
The tax is:
$9,950
$40,525
$86,375
$164,925
$209.425
$314,150
10% of taxable income
$995.00 plus 12% of the excess over $9,950
$4,664.00 plus 22% of the excess over $40,525
$14,751.00 plus 24% of the excess over $86,375
$33,603.00 plus 32% of the excesS over $164,925
$47.843.00 plus 35% of the excesS over $209,425
$84.496.75 plus 37% of the excesS over $314,150
Schedule Z-Head of Household
Iftaxable
income is over:
$0
$14.200
$54.200
386.350
5164.900
5209.400
5523.600
The tax is:
But not over:
$14.200
$54.200
S86.350
$164.900
5209.400
$523 600
10% of taxable income
$1,420.00 plus 12% of the excess over $14,200
56,220.00 plus 22% of the excess over $54,200
$13.293.00 plus 24 % of the excess over $86.350
$32.145.00 plus 32% of the excess over $164,900
$46.385.00 plus 359. of the excess over $209.400
$156,355.00 plus 379% of the axcess over $523,600
Transcribed Image Text:4. . C erto-cf-tnedia.mheducation.com/Medis/Chpnect Production/ 2021 Federal Tax Rate Schedules Schedile X-Single If tarable income is over: But not over: The tax is: SO $9,950 $40,525 $86,375 $164,925 $209 425 $523.600 $9.950 $40 525 $86,375 $164,925 $209 425 $523,600 10% of taxable income $995.00 plus l2% of the excesS over $9,950 $4,664.00 plus 22% of the excess over $40,525 $14,751.00 plus 24% of the excess over $86,375 $33,603.00 plus 32% of the excess over $164,925 $47,843.00 plus 35% of the excess over $209,425 $157,804.25 plus 37% of the excess over $523,600 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If tarable income is over: $0 $19,900 $81,050 $172,750 $329,850 $418,850 $625 300 But not over: The tax is: $19,900 $81,050 $172,750 $329,850 $418,850 $628,300 10% of taxable income $1,990.00 plus 12% of the excess over $19,900 $9,328.00 plus 22% of the excess over $81,050 $29,502.00 plus 24% of the excess over $172,750 $67,206.00 plus 32% of the excess over $329,850 $95,686.00 plus 35% of the excess over $418,850 $168,993.50 plus 37% of the excess over $628,300 Schedule Y-2-Married Filing Separately If taxable income is over: $0 $9,950 $40,525 $86.375 $164,925 3209,425 5314,150 But not over: The tax is: $9,950 $40,525 $86,375 $164,925 $209.425 $314,150 10% of taxable income $995.00 plus 12% of the excess over $9,950 $4,664.00 plus 22% of the excess over $40,525 $14,751.00 plus 24% of the excess over $86,375 $33,603.00 plus 32% of the excesS over $164,925 $47.843.00 plus 35% of the excesS over $209,425 $84.496.75 plus 37% of the excesS over $314,150 Schedule Z-Head of Household Iftaxable income is over: $0 $14.200 $54.200 386.350 5164.900 5209.400 5523.600 The tax is: But not over: $14.200 $54.200 S86.350 $164.900 5209.400 $523 600 10% of taxable income $1,420.00 plus 12% of the excess over $14,200 56,220.00 plus 22% of the excess over $54,200 $13.293.00 plus 24 % of the excess over $86.350 $32.145.00 plus 32% of the excess over $164,900 $46.385.00 plus 359. of the excess over $209.400 $156,355.00 plus 379% of the axcess over $523,600
Determine the tax llability for tax year 2021 In each of the following Instances. In each case, assume the taxpayer can take only the
standard deduction.
Use the approprlate Tax Tables and Tax Rate Schedules.
a. A single taxpayer, not head of household. with AGI of $24,793 and one dependent.
b. A single taxpayer, not head of household, with AGI of $189,309 and no dependents.
Note: Round your Intermedlate computations to 2 decCimal places and final answer to the nearest dollar amount
CA marrled couple filing Jointly with AGI of $41,245 and two dependents.
d. A marrled couple filing Jolntly with AGI of $163,588 and three dependents.
Note: Round your Intermedlate computations to 2 decimal places and final answer to the nearest dollar amount
e. A marrled couple fillng Jolntly with AGI of $313.894 and one dependent.
Note: Round your Intermediate computations to 2 decimal places and final answer to the nearest do
EA taxpayer filing marrled filing separately with AGI of $70,296 and one dependent.
g. A qualifying widow, age 66. with AGI of $50,540 and one dependent
h. A head of household with AGI of $16.875 and two dependents.
LA head of household with AGI of $60,526 and one dependent.
Pped
Fook
ences
Note: For all requirements, 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.
Tax liability
a.
C.
d.
f.
Transcribed Image Text:Determine the tax llability for tax year 2021 In each of the following Instances. In each case, assume the taxpayer can take only the standard deduction. Use the approprlate Tax Tables and Tax Rate Schedules. a. A single taxpayer, not head of household. with AGI of $24,793 and one dependent. b. A single taxpayer, not head of household, with AGI of $189,309 and no dependents. Note: Round your Intermedlate computations to 2 decCimal places and final answer to the nearest dollar amount CA marrled couple filing Jointly with AGI of $41,245 and two dependents. d. A marrled couple filing Jolntly with AGI of $163,588 and three dependents. Note: Round your Intermedlate computations to 2 decimal places and final answer to the nearest dollar amount e. A marrled couple fillng Jolntly with AGI of $313.894 and one dependent. Note: Round your Intermediate computations to 2 decimal places and final answer to the nearest do EA taxpayer filing marrled filing separately with AGI of $70,296 and one dependent. g. A qualifying widow, age 66. with AGI of $50,540 and one dependent h. A head of household with AGI of $16.875 and two dependents. LA head of household with AGI of $60,526 and one dependent. Pped Fook ences Note: For all requirements, 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. Tax liability a. C. d. f.
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