To calculate the tax owed by a married couple filing jointly who report a taxable income of $97,025, we can use the 2021 tax brackets and rates provided by the IRS.
The first $19,900 of their income is taxed at a rate of 10%, which equals $1,990.
The next $60,050 of their income is taxed at a rate of 12%, which equals $7,206.
The remaining $17,075 of their income is taxed at a rate of 22%, which equals $3,756.50.
Adding these amounts together gives a total tax liability of $12,952.50.
Therefore, the tax owed by a married couple filing jointly who report a taxable income of $97,025 is $12,952.50.