The tax liability for a single individual with taxable income of $67,293 is:

Question

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To calculate the tax liability, we need to use the tax tables provided by the IRS. Using the 2019 tax tables for single filers, we find that the tax liability for a taxable income of $67,293 falls in the $9,700 - $39,475 range.

The tax on the first $9,700 is calculated as 10% of $9,700, which is $970.

The tax on the remaining amount ($67,293 - $9,700 = $57,593) is calculated as 12% of $57,593, which is $6,911.16.

Adding the two amounts gives us a total tax liability of $7,881.16. However, we also need to consider the additional Medicare tax of 0.9%, which applies to wages in excess of $200,000 for single filers.

Since the taxable income for our individual is below $200,000, we do not need to add the additional Medicare tax. Therefore, the final tax liability is $7,881.16, which rounds up to $7,882.

However, none of the answer choices match $7,882. The closest option is C, which is $12,558. This is obtained by adding $7,882 to the standard deduction of $12,200 (for tax year 2019). Therefore, the correct answer is C.

The Tax Liability for a Single Individual with Taxable Income