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Calculate the tax refund or taxes owed. You then use the tables below with the AGI to calculate the taxes.

INSTRUCTIONS TO CANDIDATES
ANSWER ALL QUESTIONS

Tax Calculator program

Introduction / Problem Statement

Write a python program that calculate tax refund based on steps below, use only functions no objects.

Step 1. Calculate the standard deduction. For this problem we are going to assume only two marital status positions. If you are single, you get a $12,200 standard deduction. If you filed married, you get a $24,400 standard deduction.

Step 2. Calculate the adjusted gross income. To calculate your taxes owed, you take the wages and subtract the standard deductions. This gives you your adjusted gross income (AGI). 

Step 3. Calculate the tax refund or taxes owed. You then use the tables below with the AGI to calculate the taxes.  If the taxes are greater than what was paid, you owe taxes. If the taxes were less, you get a refund.

Example  

First Name = Kevin

Last Name = Martin

Total Wages = 50000

Taxes Paid = 30000

Marital Status = single

Kevin Martin’s refund is going to be $25,658.00!

Example  

First Name = Sarah

Last Name = Hayland

Total Wages = 25000

Taxes Paid = 1000

Marital Status = single

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