Marey is a 17 year old dependent high school student with income from wages of $8,000 and S4,000 of interest income from bonds given to her by her grandparents. What is Marcy's total income tax liability for the year 2020? DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWER! USE THE APPROPRIATE TAX RATE SCHEDULES IN APPENDIX A OF YOUR TEXT!! IF YOU GETA DECIMAL AMOUNT IN YOUR FINAL ANSWER, ROUND UP THE ANSWER TO THE NEXT WHOLE DOLLAR AMOUNT.

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.