-Refer to the Above Graph to Answer This Question

question 150

Multiple Choice

-Refer to the above graph to answer this question.What is the value of the multiplier?

• A)0.5
• B)1
• C)1.5
• D)2
• E)2.5

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Definitions:

Tax Court

A federal court that hears and adjudicates tax-related disputes and issues between taxpayers and the Internal Revenue Service.

Tax Assessment

Tax assessment is the process of determining the value of a property, or the income of an individual or business, for the purpose of levying taxes.

Simplified Tax Formula

A streamlined calculation to determine taxable income by subtracting allowable deductions and exemptions from gross income.

Income Tax Returns

Income Tax Returns are forms filed with a taxing authority that report income, expenses, and other pertinent tax information, used to calculate tax liability.