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?

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?

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?

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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