The tax liability for a married couple with taxable income of $141,325 is:
A) $35,331.
B) $27,044.
C) $20,329.
D) $21,199.

Question

Quizplus · Accepted Answer

Using the 2021 married filing joint tax brackets from the IRS, the tax liability for a couple with a taxable income of $141,325 would be calculated as follows:

- $19,900 at 10% = $1,990
- ($81,050 - $19,900) at 12% = $7,068
- ($141,325 - $81,050) at 22% = $13,986

Total tax liability = $22,044, but there is a $4,000 credit for a married couple, bringing the final tax liability to $18,044.

The Tax Liability for a Married Couple with Taxable Income