Question

Using the 2019 federal income tax information, compute the amount of federal income tax paid by a single person who earned $100,000 in 2019, and compute the effective tax rate.

Answer 1

To compute the federal income tax paid by a single person who earned $100,000 in 2019, use the tax rate table provided by the IRS. The effective tax rate can be calculated by dividing the federal income tax paid by the total income.

Step-by-step explanation:

To compute the amount of federal income tax paid by a single person who earned $100,000 in 2019, we can use the tax rate table provided by the IRS. According to the table, the tax rate for a single person with a taxable income of $100,000 is 24%. So, the federal income tax paid would be 24% of $100,000, which is $24,000.

To compute the effective tax rate, we divide the federal income tax paid by the total income. In this case, the effective tax rate would be $24,000 divided by $100,000, which is 24%.