dollars withheld
Using the tax form, instructions and info attached, answer the following questions.
- Assume you are a single person with no dependents who made $35,000.00 from your primary job and an additional $5,500.00 from a part time position. You had a total of $7,700 dollars withheld in taxes (from both jobs combined) and will take the standard deduction.
Will you get a refund or will you have to pay more tax? (5 pts.)
What is the amount of the refund/payment? (5 pts.)
- Using the tax tables on page 90 of the instructions, assume a single person has a taxable income of $382,000.00.
What will the single person’s total tax be? (5 pts.)
What is the single person’s effective tax rate? (5 pts.)
Submission Format
- The length of your response is conditional on the question. Answer fully, but concisely.
- Your submissions should be submitted via the assignment dropbox in .doc or .docx format, using 12 pt type and double spacing.
- Late submissions will not be accepted, absent documented circumstances that made submission impossible.
Due DateFeb 18, 2018 11:59 PMAttachments
2016 1040 Instructions.pdf (3.05 MB)2016 Form 1040.pdf (188.03 KB)Download All Files
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dollars withheld was first posted on September 25, 2019 at 1:37 pm.
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dollars withheld was first posted on September 25, 2019 at 1:38 pm.
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