Rates for a Couple Filing a Joint Tax Return Are

question 26

Short Answer

Rates for a couple filing a joint tax return are 10% up to $16,750 and 15% thereafter up to $68,000. Joanna and Delbert Linton earned combined gross income of $26,000. They took the standard deduction of $11,400 for a married couple filing a joint return and two exemptions of $3,650 each. Compute the amount of income tax.

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Definitions:

Normal Curve

A symmetrical bell-shaped curve that describes the distribution of many types of data where most occurrences take place around the mean.

Continuity Correction

An adjustment made when approximating a discrete distribution with a continuous one, often applied in binomial and poisson distributions.

Binomial Distribution

A probability distribution that describes the number of successes in a fixed number of independent experiments, each with the same probability of success.

Normal Distribution

A bell-shaped curve that represents the distribution of many types of data where most values cluster around a central mean and probabilities for values taper off equally in both directions.