What is the amount of the tax liability for a married couple having taxable income of $96,843? All answers should be rounded to the nearest dollar.
A) $14,526.
B) $13,656.
C) $15,919.
D) $15,923.

Question

Quizplus · Accepted Answer

To calculate the tax liability for a married couple with $96,843 of taxable income, we will use the married filing joint tax table for 2021. According to the tax table, their tax liability will be:

$19,750 × 10% = $1,975
($80,250 - $19,750) × 12% = $7,470
($96,843 - $80,250) × 22% = $3,474.60

So, their total tax liability will be $1,975 + $7,470 + $3,474.60 = $15,919.60, which rounded to the nearest dollar is $15,920. Therefore, the correct answer is C.

What Is the Amount of the Tax Liability for a Married