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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
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). ]

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