Kana is a single wage earner with no dependents and taxable income of $205,000 in 2018. Her 2017 taxable income was $155,000 and tax liability was $36,382. Calculate Kana’s 2018 income tax liability and the minimum required 2018 annual payment necessary to avoid any penalty. Round your answers to two decimal places. Click here to access the income tax rate schedules. Kana’s 2018 income tax liability: $Kana’s minimum required 2018 annual payment necessary to avoid any penalty: $

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter9: Payroll, Estimated Payments, And Retirement Plans
Section: Chapter Questions
Problem 6P: Kana is a single wage earner with no dependents and taxable income of $205,000 in 2019. Her 2018...
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Kana is a single wage earner with no dependents and taxable income of $205,000 in 2018. Her 2017 taxable income was $155,000 and tax liability was $36,382.

Calculate Kana’s 2018 income tax liability and the minimum required 2018 annual payment necessary to avoid any penalty. Round your answers to two decimal places.

Click here to access the income tax rate schedules.

Kana’s 2018 income tax liability: $
Kana’s minimum required 2018 annual payment necessary to avoid any penalty: $

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