Robert and John are married and have 4 dependent children and earn a gross biweekly salary of $5,710. They will also mak

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Robert And John Are Married And Have 4 Dependent Children And Earn A Gross Biweekly Salary Of 5 710 They Will Also Mak 1 (55.88 KiB) Viewed 25 times

Robert And John Are Married And Have 4 Dependent Children And Earn A Gross Biweekly Salary Of 5 710 They Will Also Mak 2 (62.18 KiB) Viewed 25 times

Robert and John are married and have 4 dependent children and earn a gross biweekly salary of $5,710. They will also make the following tax-deductible purchases: • Medical expenses: $6,662 • Educational expenses: $6,661 When they file their taxes jointly, what will their tax refund be? Use the following information: • Standard deduction for married couples: $25,100 • Biweekly allowance: $165.38 per person 2021 Married Individuals Filing Joint Returns and Surviving Spouses If Tastable Income Is Between: The Tax Due is: $0 - $19,900 10% of taxable income $19,901 - 581,050 $1,990 plus 12% of the amount over $19,900 $81,051 - $172,750 $9,328 plus 22% of the amount over $81,050 $172,751 - $329,850 $29,502 plus 24% of the amount over $172,750 $329,851 - $418,850 $67,206 plus 32% of the amount over $329,850 S418,851 - 5628,300 $95,686 plus 35% of the amount over $418,850 $628,301 or more $168,993,50 plus 37% of the amount over $628,300
2021 Married Person Biweekly Withholding Table Taxable Wages Wages Withholding $0-$483 $0.00 $483 - $865 $0.00 plus 10% of amount exceeding $483 $865 - $2,041 $38.20 plus 12% of amount exceeding $865 $2,041 - $3,805 $179.32 plus 22% of amount exceeding $2,041 $3,805 - $6,826 $567.40 plus 24% of amount exceeding $3,805 $6,826 - $8,538 $1,292.44 plus 32% of amount exceeding $6,826 $8,538 - $12,565 $1,840.28 plus 35% of amount exceeding $8,538 $12,565 or more $3,249.73 plus 37% of amount exceeding $12,565 For your final answer proceed as: Annual Income Tax to be payed or refunded - Total Annual Withholding - Final Income Tax. If the couple has to pay the government, type the number with a negative sign. For example, -325. If the couple has to receive a refund from government, type the number without sign. For example, 325. Round your answer to the nearest dollar.