Full TEST BANK FOR Taxation Of Individuals And Business Entities 2022 13th Edition Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham Chapter 1-25
Chapter 1 Student name:__________ 1) The following are a series of tables that may be referred to in several questions throughout your test. Please refer to these tables as needed or as directed. 2021 Tax Rate Schedules Individuals Schedule X-Single If taxable income is But not over: over:
The tax is:
$ 0
$ 9,950
10% of taxable income
$ 9,950
$ 40,525
$995 plus 12% of the excess over $9,950
$ 40,525
$ 86,375
$4,664 plus 22% of the excess over $40,525
$ 86,375
$ 164,925
$14,751 plus 24% of the excess over $86,375
$ 164,925
$ 209,425
$33,603 plus 32% of the excess over $164,925
$ 209,425
$ 523,600
$47,843 plus 35% of the excess over $209,425
$ 523,600
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$157,804.25 plus 37% of the excess over $523,600
Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is But not over: over:
The tax is:
$ 0
$ 19,900
10% of taxable income
$ 19,900
$ 81,050
$1,990 plus 12% of the excess over $19,900
$ 81,050
$ 172,750
$9,328 plus 22% of the excess over $81,050
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