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Q: Each year the internal revenue service adjusts the value of an exemption based on inflation and rounded to the nearest $50 In a recent year if the exemption was worth $3,100 and inflation was 4.7
percent what would be the amount of the exemption for the upcoming tax year?
A: $3,100 X 1.047 = $3,245.70 rounded to $3,250
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Original conversation
User: what would be the average tax rate for a person who paid taxes of $4,864.14 on a taxable income of $39,870?

User: Each year the internal revenue service adjusts the value of an exemption based on inflation and rounded to the nearest $50 In a recent year if the exemption was worth $3,100 and inflation was 4.7 percent what would be the amount of the exemption for the upcoming tax year?

Weegy: $3,100 X 1.047 = $3,245.70 rounded to $3,250
coolcurtis|Points 150|

User: Using the tax table in Exhibit 4-7 determine the amount of taxes for the following situations a)A head of household with taxable income of $26,210 b) A single person with taxable income of $26,888 c) A married person filling a separate return with taxable income of $26,272

Weegy: a. A head of household with taxable income of $26,210 ($3,934 amount of taxes). b. A single person with taxable income of $26,888 ($4,321 amount of taxes). c. [ A married person filing a separate return with taxable income of $26,272 ($4,679 amount of taxes). ]
Expert answered|bongche|Points 2795|

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Asked 7/31/2012 7:33:13 PM
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