Table 12-11 the Following Table Presents the Total Tax Liability for an for an Unmarried

question 304

Multiple Choice

Table 12-11
The following table presents the total tax liability for an unmarried taxpayer under four different tax schedules for the income levels shown.

-Refer to Table 12-11.For an individual with $200,000 in taxable income,which tax schedule has the highest average tax rate?

• A) Tax Schedule A
• B) Tax Schedule B
• C) Tax Schedule C
• D) Tax Schedule D

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Definitions:

FICA-Medicare

A component of FICA taxes, withheld from employee wages and matched by employers, to fund the Medicare health insurance program.

FICA-OASDI

Tax contributions made by both employees and employers to fund the Social Security program, covering retirement, disability, and survivorship benefits under the Federal Insurance Contributions Act.

FICA Tax Rate

The combined rate for Social Security and Medicare taxes that employers and employees must pay on wages.

OASDI

Old-Age, Survivors, and Disability Insurance, a comprehensive federal benefits program that includes retirement, disability, and survivors benefits.