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Table 1.2 Use the following tax rates and income brackets for 2015 to answer the

ID: 2577836 • Letter: T

Question

Table 1.2

Use the following tax rates and income brackets for 2015 to answer the following question(s).

Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015?

Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.

A.

$18,425

B.

$13,750

C.

$12,285

D.

$16,481

Tax Rates Individual Returns           Joint Returns 10%      $0 to $9,075                       $0 to $18,150 15%             $9,076 to $36,900               $18,151 to $73,800 25% $36,901 to $89,350             $73,801 to $148,850 28%     $89,351 to $186,350           $148,851 to $226,850 33%   $186,351 to $405,100           $226,851 to $405,100 35%   $405,101 to$406,750           $405,101 to $457,600

Explanation / Answer

Amount of Josh's taxes for the year 2015 = (9075*10%)+(36900-9075)*15%+(82500-36900)*25% = 16481 Option D is correct

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