use the 2021 marginal tax rates to compute the tax owed by the person with the given filing status, taxable…

use the 2021 marginal tax rates to compute the tax owed by the person with the given filing status, taxable income, and tax credit. head of household with a taxable income of $81,000 and a $6000 tax credit. click the icon to view the 2021 marginal tax rates. the tax owed is $ (type an integer or a decimal. round to the nearest cent as needed ) 2021 marginal tax rates 2021 marginal tax rates and standard deductions tax rate unmarried, divorced, or legally separated single married and each partner files a separate tax return married filing separately married and both partners file a single tax return married filing jointly unmarried and paying more than half the cost of supporting a child or parent head of household 10% up to $9950 up to $9950 up to $19,900 up to $14,200 12% $9951 to $40,525 $9951 to $40,525 $19,901 to $81,050 $14,201 to $54,200 22% $40,526 to $ 86,375 $40,526 to $86,375 $81,051 to $172,750 $54,201 to $86,350 24% $86,376 to $164,925 $86,376 to $164,925 $172,751 to $329,850 $86,351 to $164,900 32% $164,926 to $209,425 $164,926 to $209,425 $329,851 to $418,850 $164,901 to $209,400 35% $209,426 to $523,600 $209,426 to $314,150 $418,851 to $628,300 $209,401 to $523,600 37% more than $523,600 more than $314,150 more than $628,300 more than $523,600 standard deduction $12,550 $12,550 $25,100 $18,800

use the 2021 marginal tax rates to compute the tax owed by the person with the given filing status, taxable income, and tax credit. head of household with a taxable income of $81,000 and a $6000 tax credit. click the icon to view the 2021 marginal tax rates. the tax owed is $ (type an integer or a decimal. round to the nearest cent as needed ) 2021 marginal tax rates 2021 marginal tax rates and standard deductions tax rate unmarried, divorced, or legally separated single married and each partner files a separate tax return married filing separately married and both partners file a single tax return married filing jointly unmarried and paying more than half the cost of supporting a child or parent head of household 10% up to $9950 up to $9950 up to $19,900 up to $14,200 12% $9951 to $40,525 $9951 to $40,525 $19,901 to $81,050 $14,201 to $54,200 22% $40,526 to $ 86,375 $40,526 to $86,375 $81,051 to $172,750 $54,201 to $86,350 24% $86,376 to $164,925 $86,376 to $164,925 $172,751 to $329,850 $86,351 to $164,900 32% $164,926 to $209,425 $164,926 to $209,425 $329,851 to $418,850 $164,901 to $209,400 35% $209,426 to $523,600 $209,426 to $314,150 $418,851 to $628,300 $209,401 to $523,600 37% more than $523,600 more than $314,150 more than $628,300 more than $523,600 standard deduction $12,550 $12,550 $25,100 $18,800

Answer

Explanation:

Step1: Calculate tax for first - bracket

The first - bracket for head of household is up to $14,200 at a 10% rate. Tax for this part is $14,200\times0.10 = 1420$.

Step2: Calculate tax for second - bracket

The second - bracket for head of household is from $14,201$ to $54,200$ at a 12% rate. The amount in this bracket is $54,200 - 14,201+1=40,000$, and the tax is $40,000\times0.12 = 4800$.

Step3: Calculate tax for third - bracket

The taxable income is $81,000$. The amount in the third - bracket (22% rate) is $81,000 - 54,201=26,799$, and the tax is $26,799\times0.22 = 5895.78$.

Step4: Calculate total tax before credit

The total tax before credit is $1420 + 4800+5895.78=12,115.78$.

Step5: Apply tax credit

The tax credit is $6000$. So the tax owed is $12,115.78 - 6000=6115.78$.

Answer:

$6115.78$