Question

Sheniqua, a single taxpayer, had taxable income of $71,039. Her employer withheld $11,115 in federal income tax from her paychecks throughout the year. What is the amount of refund would Sheniqua receive or additional tax she would pay

Answer 1

The answer is "$ 371.08".

Step-by-step explanation:

Suppose 2019 is the year:

Income from Taxes = \$ 71,039

`\to \$ 9700 \ to \ 0 = 10 \% = 970 \\\\ \to 9701 \ to \ \$ 39475\ = 12 \% \\\\ \to (39475-9701) =1 2 \% \ of\ 29774 = \$ 3572\\\\\to \$ 39475\ to\ \$ 71039= 22\% \\\\\to (71039-39475) =\$ 31,564 \to 22 \% \ of\ \$ 31564\\\\= 6944.08`

Total tax =
`\$ 970+3572+ \$ 6944.08\\\\`

`= 11486.08`

And withheld from Employer = 11,115

It tax is also paid by Shenika =
`(\$ 11486.08- \$ 11,115)`

`= \$\ 371.08`