- Use The Tax Chart Below To Answer The Following Question Calculate The Annual Tax Liability For A Single Person Earning 1 (42.04 KiB) Viewed 62 times
- Use The Tax Chart Below To Answer The Following Question Calculate The Annual Tax Liability For A Single Person Earning 2 (17.72 KiB) Viewed 62 times
USE THE TAX CHART BELOW TO ANSWER THE FOLLOWING
QUESTION: Calculate the annual tax liability for a single person earning $120,000 per year. (for taxes due in April 2020) Married, Tax rate Single Married, filing Head of jointly filing household separately 10% $0 to $9,900 S0 to $19,400 S0 to $9,700 $0 to $13,850 12% $9.901 to $19,401 to $78,950 9.701 to $13.851 to $39,500 $39,475 $52.850 22% $39.501 to $78,951 to $168.400 $39,476 to S$2.851 to $84.200 $84.200 $84.200 24% S84,201 to S168,401 to $84,201 to S84,201 to S160,725 S321,450 S160,725 $160,700 32% $160,726 to S321,451 to $160,726 to $160,701 to S204,100 S408,200 S204,100 S204,100 35% S204,101 to S408,201 to S204,101 to S204,101 to S510.300 S612,350 $306,175 S510,300 37% S510,301 or S612.351 or more S306,176 of S510,301 or more more more What other taxes do individuals pay?