3.37 LAB*: Program: Income tax form Program Specifications Write a program to calculate U.S. income tax owed given wages

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3 37 Lab Program Income Tax Form Program Specifications Write A Program To Calculate U S Income Tax Owed Given Wages 1 (103.59 KiB) Viewed 86 times

3.37 LAB*: Program: Income tax form Program Specifications Write a program to calculate U.S. income tax owed given wages, taxable interest, unemployment compensation, status (single or married) and taxes withheld. Taxpayers are only allowed to use this short form if adjusted gross income (AGI) is less than $120,000. Dollar amounts are displayed as integers with comma separators. For example, System.out.printf("Cost: $%.2f", cost); Note: this program is designed for incremental development. Complete each step and submit for grading before starting the next step. Only a portion of tests pass after each step but confirm progress. Step 1 (2 pts). Input wages, taxable interest, unemployment compensation, status (1-single and 2=married) and taxes withheld as integers. Calculate and output AGI (wages + interest + unemployment). Output error message if AGI is above $120,000 and the program stops with no additional output. Submit for grading to confirm two tests pass. Ex: If the input is: 20000 23 500 1 400 The output is: AGI: $20,523 Ex: If the input is: 120000 23 500 1 400 The output is:
Error: Income too high to use this form Step 2 (3 pts). Identify deduction amount based on status: (1) Single=$12,000 or (2) Married=$24,000. Set status to 1 if not input as 1 or 2. Calculate taxable income (AGI - deduction). Set taxable income to zero if negative. Output deduction and taxable income. Submit for grading to confirm five tests pass. Ex: If the input is: 20000 23 500 1 400 Ex: The additional output is: AGI: $20,523 Deduction: $12,000 Taxable income: $8,523 Step 3 (3 pts). Calculate tax amount based on exemption and taxable income (see tables below). Tax amount should be stored as a double and rounded to the nearest whole number using Math.round(). Submit for grading to confirm eight tests pass. Ex: If the input is: 20000 23 500 1 400 Ex: The additional output is: AGI: $20,523 Deduction: $12,000 Taxable income: $8,523 Federal Tax: $852
80000 0 500 2 12000 Ex: The additional output is: Income AGI: $80,500 Deduction: $24,000 $0-$10,000 $10,001 - $40,000 $40,001 - $85,000 over $85,000 Income $0-$20,000 $20,001 - $80,000 over $80,000 Tax for Single Filers 10% of the income $1,000+ 12% of the amount over $10,000 $4,600 + 22% of the amount over $40,000 $14,500 + 24% of the amount over $85,000 Tax for Married Filers Step 4 (2 pts). Calculate amount of tax due (tax-withheld). If the amount due is negative the tax payer receives a refund. Output tax due or tax refund as positive values. Submit for grading to confirm all tests pass. Ex: If the input is: 10% of the income $2,000+ 12% of the amount over $20,000 $9,200 + 22% of the amount over $80,000
Ex: The additional output is: AGI: $80,500 Deduction: $24,000 Taxable income: $56,500 Federal tax: $6,380 Tax refund: $5,620 403736.2453724.qx3zqy7 Step 4 (2 pts). Calculate amount of tax due (tax-withheld). If the amount due is negative the tax payer receives a refund. Output tax due or tax refund as positive values. Submit for grading to confirm all tests pass. Ex: If the input is: 80000 0 500 2 LAB ACTIVITY 12000 5 1 import java.util.Scanner; 2 3 public class LabProgram { 4 G $20,001 - $80,000 over $80,000 3.37.1: LAB*: Program: Income tax form $2,000 + 12% of the amount over $20,000 public static void main(String[] args) { Scanner scnr = new Scanner(System.in); $9,200 + 22% of the amount over $80,000 LabProgram.java 3/10 Load default template...